Codelco raises copper premium to $88/t for Europe

The world's biggest copper miner, Codelco, has raised its 2018 physical copper premium to European buyers to $88/t from the $80/t to $85/t range this year, copper industry sources said. Codelco's premiums for physical delivery of copper to be paid over the London Metal Exchange benchmark are seen as a benchmark for global contracts, which means other producers are likely to follow suit.