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Imported analysis of negotiation of contract of cathode copper year 2007

From;  Author:Stand originally

China is jumped namely since 2003 litre for global cathode copper (cathode copper) the country with the biggest consumption, consumption was to achieve 3.6 million tons more 2005 new tall. Come nearly 10 years, the importer of Chinese cathode copper, raw material that consumes manufacturer purchases means increasing also from complete merchandise on hand transfer long-term contract (basically be year contract) the commercial pattern that is united in wedlock with photograph of contract of merchandise on hand. Large treatment company relies on year contract morely purchase. Because evaluate means uses mechanism of evaluate of month or week float basically, the key that long-term contract negotiates basically is year premium (PREMIUM) decide really.
Year end will come, downstream client of business of production of copper of cathode of 2007 year abroad and China, importer talks about sentenced big screen to be about to pull open, in this pair circumstance of negotiation of contract of year of entrance cathode copper makes one analysis.
As the whole world the biggest copper produces business, CODELCO (company of Chile country copper) differ every year in the light of the whole world the PREMIUM of contract of cathode copper year that the area makes, have absolutely fiducial (BENCH MARK) demonstrative action. Current, CODELCO already announced early or late 2007 European USD125 and photograph comparing rose 2006 USD20; Korea USD 115 rise than 2006 USD 3; Japanese USD 115, with kept balance 2006; Taiwan area USD 115, with the PREMIUM quote level that kept balance 2006. The PREMIUM of chinese mainland area predicts next week to be able to be announced. The hearsay on the market, the PREMIUM of market of next year China lifts considerably likely, reason is: One, photograph of cathode copper output will appear to demand 2007 shortage; 2, as a result of in wisdom agreement of two countries free trade already become effective, china imports Chile cathode copper to will enjoy 2 % to import the exempt of custom duty.
The level of PREMIUM of the coming year that CODELCO has quoted, mirrorred basically 2006 current situation of market of global cathode copper and right 2007 the anticipation of state of supply and demand of various places market. Be aimed at the quote hearsay of Chinese market, the author thinks, chinese PREMIUM did not have the reason that rise 2007. Contrary, with Europe and North America spot market photograph compared cathode copper 2006, chinese market the expression 2006 makes Chinese cathode copper consumes business more anticipate year contract PREMIUM should have 2007 substantially drop space. Main reason is:
One, 2005, two years 2006 since the PREMIUM of contract of year of copper of Chinese entrance cathode is far outclass in those days the PREMIUM of merchandise on hand, add the serious twist of before last sea and rate of exchange of LME market value, deficit of importer of domestic cathode copper is huge, partial client must cancel the execution of partial year contract even.
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