---
title: "Codelco raises annual premium as the US dollar weakens, copper prices continue to rise"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/267467077.md"
description: "Codelco raises annual premium, weaker dollar enhances metal attractiveness, copper prices rise. Copper futures prices are close to USD 10,900 per ton, up 0.4% on Tuesday. The company proposed a contract premium of USD 350 per ton to Chinese buyers for 2026. The market is concerned that a surge in U.S. goods could lead to supply shortages in other regions. The dollar's decline is due to the Federal Reserve potentially easing policies, making it cheaper for overseas buyers to purchase raw materials. Copper prices have risen nearly a quarter this year, influenced by mining supply disruptions and tariff plans"
datetime: "2025-11-26T07:02:08.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/267467077.md)
  - [en](https://longbridge.com/en/news/267467077.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/267467077.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/267467077.md) | [繁體中文](https://longbridge.com/zh-HK/news/267467077.md)


# Codelco raises annual premium as the US dollar weakens, copper prices continue to rise

According to the Zhitong Finance APP, copper prices have risen due to a significant increase in the annual premium set by Chilean producer Codelco and a weaker dollar enhancing the metal's attractiveness. Copper futures prices are approaching USD 10,900 per ton, with a 0.4% increase on Tuesday. The company has proposed to some Chinese buyers that the premium for its copper supply in the 2026 annual contract is set at USD 350 per ton (based on London Metal Exchange prices). This move highlights concerns in the market about a surge in goods shipped to the United States potentially leading to supply shortages in other regions.

In the broader market, the dollar has weakened due to speculation that the Federal Reserve will ease policy again next month. This trend in the dollar follows the emergence of a rate-cutting official as a potential next head of the central bank, making it cheaper for overseas buyers to purchase raw materials.

Copper prices have risen nearly a quarter this year and set a record above USD 11,000 per ton last month. This round of gains has been driven by a series of key mine supply disruptions, ore shortages, and significant bets on the Trump administration reconsidering its plans to impose tariffs on refined metals next year.

Codelco's quotes typically set the industry benchmark, with the USD 350 premium significantly jumping from the USD 89 agreed upon this year.

As of the time of writing, London Metal Exchange copper contracts rose 0.1% to USD 10,866 per ton. Zinc increased by 0.16%, while tin prices are expected to reach the highest closing price since April.

Iron ore contracts in the Singapore market have also risen for the third consecutive day. In China, iron ore futures priced in RMB on the Dalian Commodity Exchange also recorded gains, while steel contracts in Shanghai saw a slight decline.

Fitch Solutions' BMI predicts that due to additional supply from the Simandou project in Guinea and "robust" output from major miners, iron ore prices will fall to an average of USD 95 per ton next year

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