Spot trading sentiment in the global copper market is low this week with buyers cautious on the high copper price and backwardation, leaving premiums mostly stable except for a slight rise in Rotterdam, sources told Fastmarkets on March 2.
The London Metal Exchange cash-to-three-month copper spread is in a $49.75-per-tonne backwardation on March 2Copper buyers are hesitant after the recent copper price rallyVolatile price and lack of arb opportunity keeps Chinese buyers awayThe copper contract on the Shanghai Futures Exchange...