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Codelco settles 2021 copper supply deal with major China buyer at $88 premium
- The premium, which Codelco kept steady on the 2020 level in its recent offer to state-run Chinese clients.
- The sources asked not to be named as the information was not public and also declined to identify the buyer.
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Top global copper producer Codelco on Friday agreed a contract with a major Chinese buyer for copper supply at a premium of $88 a tonne in 2021, two sources at the Chilean company said.
The premium, which Codelco kept steady on the 2020 level in its recent offer to state-run Chinese clients, is paid on top of London Metal Exchange copper prices for physical delivery of copper cathodes and is a widely watched industry benchmark.
The sources asked not to be named as the information was not public and also declined to identify the buyer.