Chile's Codelco offers copper to Chinese clients at a premium of $89/t, sources say
FILE PHOTO: The logo of Codelco, the world's largest copper producer, is seen at their headquarters in downtown Santiago, Chile March 29, 2018. REUTERS/Ivan Alvarado/File photo
LONDON : Chile's state-owned copper producer Codelco has offered its refined copper output to Chinese clients at a premium of $89 per metric ton for 2025, largely unchanged from a year ago, two sources with knowledge of the matter told Reuters.
The copper premium, a fee on top of the London Metal Exchange prices charged to buyers, is a demand indicator for the metal widely used in power networks.
Codelco, the world's top copper miner has been struggling to lift output after hitting historic lows in the last two years.
It is expected to produce 1.325 million to 1.352 million tons of copper this year.
