Corporacion del Cobre de Chile, or Codelco, has raised its copper premiums by 2 dollars-3 dollars a metric ton for 2003 deliveries in the Asian region from this year's premiums, traders said. However, the world's biggest copper producer is keeping its 2003 benchmark premium for major European ports at 38 dollars /ton, cost, insurance and freight basis, unchanged from this year's benchmark. All premiums are quoted over the London Metal Exchange cash price. Codelco's office in Singapore declined to comment on next year's premiums. Codelco's benchmark premium in Japan for 2003 will be 47 dollars /ton, CIF to main Japanese ports, up 2 dollars /ton from the 2002 premium of 45 dollars /ton. In both South Korea and Taiwan, the 2003 premium will be 43 dollars /ton, CIF to main ports, up 3 dollars /ton from the 2002 premium of 40 dollars /ton.
NSTL
