LONDON/HONG KONG, Oct 13 (Reuters) - The world’s top copper producer Codelco has offered 2015 copper term premiums at $112 a tonne for customers in Europe, flat from this year, two sources with direct knowledge of the offer said on Monday.
The flat premium raised expectations that Codelco could offer flat or a slight fall in term premium for its biggest buyer China in 2015 from a premium of $138 a tonne for 2014 deliveries, one of the sources said.
“Codelco have told their customers in Europe that they are offering premiums unchanged from this year,” the second source said.
Term premiums are typically negotiated between suppliers and consumers for long-term contracts, and deals are discussed during this month’s London Metal Exchange Week, an annual gathering in London of the global metals industry. (Reporting by Harpreet Bhal in London and Polly Yam in Hong Kong; editing by Susan Thomas)