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Chilean copper producer Codelco is pushing for a massive hike in annual premiums for refined metal supplies to its Chinese customers, highlighting concerns that a rush of metal to the US may soon create a shortage in the rest of the world.
Codelco offered to supply some buyers at a premium of $335 a ton over London Metal Exchange prices for 2026 annual contracts, according to a person with knowledge of the discussions, while a separate person said that some buyers were offered $350 a ton.
