Copper concs charges rise above $100/10 ahead of benchmark talks

Treatment and refining charges (TC/RCs) for copper concentrates rose further in the second half of September as traders destocked and smelters scaled back purchases ahead of contractual supply talks for 2016.

The Metal Bulletin Copper Concentrates Index rose to $100.7 per dry metric tonne/10.7 cents per lb on Wednesday September 30, up from $93.70/9.37 cents on September 15 to reach the highest level since February.
The rise came as producers and traders reported sales of clean cargoes into China in the range $100-105/10-10.5 cents, and private mine-to-trader sales concluded in the high $90s/9s and low $100s/10s.
Trade sources said one miner privately sold high-grade concentrates from a mine in the USA at $97/9.7, while a clean parcel of Peruvian concentrates was sold in the low $100/10s.

Chinese smelters are still willing to buy below $100/10 for very clean, high-grade brands such as Escondida or Los Pelambres, but bookings are...


Mark Burton

October 01, 2015

11:15 GMT