Trafigura Group has been buying large volumes of copper to increase sales in Asia as local supplies dwindle, adding to a scramble for metal that has pushed regional premiums for spot cargoes to record highs.
Why it matters: Heavy trader buying into a tightening Asian market, with spot premiums at records, points to physical copper tightness in China that futures prices alone would not show.
Data as of Single-sourced: Bloomberg report of November 7, 2026, read via its syndication on Binance Square; the report does not quantify the volumes bought or the level of the regional premiums. Developing item.
Trafigura Group has been buying large volumes of copper to increase its sales in Asia as local supplies dwindle, Bloomberg reported on Saturday. The buying adds to a scramble for metal across the region that has pushed premiums for spot cargoes to record highs.
The purchases point to tightening physical supply in China, the world’s largest copper consumer, where traders are competing for available cargoes rather than waiting on new mine or smelter output.