SHANGHAI, Nov 22 (SMM) –Spot premiums rose above 2,000 yuan/mt amid falling social inventory and the suspension of customs tariffs, and premiums in south and north China followed suit.
According to SMM survey, the orders from downstream producers thinned amid high premiums while copper rod producers using copper cathode faced pressure from bearish shipments and rising finished product stocks. Some copper rod producers using copper cathode in south and east China have suspended or cut production. If premiums continue to be high, it will have an impact on the operating rates of copper rods.
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