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, according to sources familiar with the situation. This premium remains largely unchanged from the previous year, indicating stable demand for the metal, which is essential for power networks.
Market Context:
The copper premium is a fee added to the London Metal Exchange (LME) prices, serving as a key demand indicator for copper among buyers.
Codelco, recognized as the world’s leading copper miner, has faced challenges in increasing output after experiencing historic lows over the past two years.
Production Forecast:
The company is projected to produce between 1.325 million and 1.352 million tons of copper this year, reflecting ongoing efforts to stabilize and enhance production levels.