Codelco, record benchmark premium for Europe LONDON, Oct 18 (Reuters) - Chile's Codelco, the world's biggest copper miner, has agreed a record benchmark premium for European buyers at $234 a tonne for 2023, up 83% from this year, two copper industry sources said.
The premiums set by state-owned Codelco for physical delivery of copper are paid on top of the London Metal Exchange (LME) contract and serve as a benchmark for global contracts.