Benchmark: LME cash, in-warehouse. The same tonne prices differently by origin — freight, quality, sanctions and policy set the differential. Deep dive →
| Origin | Basis | Market note |
|---|---|---|
🌐 LME warehouses Global · terminal market | In-warehouseBenchmark | The global reference price |
🇨🇳 Shanghai bonded China · import arb | CIF Shanghai premium | Yangshan premium — import appetite gauge |
🇺🇸 CME delivered US USA · dislocated | CME vs LME arb | Tariff-driven US premium pulling metal into COMEX warehouses |
🇨🇱 Chile concentrates Chile · top producer | FOB payable basis | Concentrate payables with TC/RCs near record lows |
Origin notes are qualitative context. Dollar differentials are not shown, because no public differential series is attached.
Track physical flows on the live vessel map →Converted from 14,474.00 USD/t · indicative FX
Copper is traded in the base metals segment. The series on this page is the named public source, not a live feed. Physical parcels of Copper can be sourced or placed through the Off Market desk, listed openly on the Marketplace, or intermediated by a specialist broker.
Tight concentrate supply is keeping spot treatment and refining charges under pressure, underpinning refined copper even as demand signals soften in parts of Asia.