The Metal Bulletin Copper Concentrates Index was calculated at $105.2/10.52 per tonne on Friday November 13, down from $105.7/10.57 at the end of October, as the bulk of transactions were reported either side of the 2015 benchmark of $107/10.7.
A miner was said to have sold one cargo of clean material to a trader at just below $100/10 around the start of the month, but most trader-to-smelter sales took place between $105-110/10.5-11, market sources said.
“I don’t know why anyone would pay below $100 today because there are plenty of cargoes trading around benchmark,” one concentrates trader told Metal Bulletin.
While traders were becoming less aggressive in their efforts...
