October 21, 2019 / 9:30 AM / a month ago

UPDATE 1-Aurubis sets 2020 copper premium at $96 per tonne

(Updates with company confirmation)

HAMBURG, Oct 21 (Reuters) - Aurubis, Europe’s biggest copper smelter, said on Monday it would offer customers a premium of $96 per tonne above the London Metal Exchange (LME) price for copper in 2020.

Aurubis confirmed earlier reports from traders that the 2020 premium offered would be unchanged from premiums offered in 2019.

“Premiums remain at a stable level showing the decent state of market demand,” one German trader said of the Aurubis premium.

Codelco, the world’s biggest copper miner, set its 2020 copper premium for European buyers at $98 a tonne, also the same level as for 2019, industry sources said on Oct. 4.

Reporting by Michael Hogan, editing by Alexander Smith

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