Aurubis, Europe’s largest copper smelter, announced on Thursday that it will maintain a premium of $228 per metric ton over the London Metal Exchange (LME) price for copper sold to European customers in 2024. This premium remains unchanged from the previous two years, as previously reported by Reuters.
A spokesperson for Aurubis confirmed that the premium remains at a “record high level” due to the consistently strong demand for copper products across Europe. She cited the ongoing transition to renewable energy as a key factor driving this heightened demand.
As of Thursday, copper was trading at approximately $9,900 per ton on the LME, a decline of 10% since reaching a record high of $11,100 in May.
