The Metal Bulletin Copper Concentrates Index was calculated at $98.7 per dmt and 9.87 cents per lb on March 13, compared with $96.2/9.62 cents on February 28.
Sentiment was mixed in the first two weeks of March as ongoing mine supply cuts supported a bullish mood among producers and traders, while smelters in China sought to resist demand for lower charges, citing ample working inventories and sufficient supplies under long-term contracts.
A 10,000-tonne Antamina tender held within the last week was said by traders to have concluded at about $88/8 cents, while sales to smelters also became more active throughout the first two weeks of March, following a hiatus in cif China trade over the Lunar New Year holiday in February.
The mine-to-trader Antamina deal was above the $81/8.1 cent level traders were said to...
