The Metal Bulletin Copper Concentrates Index
was calculated at $99 per dry metric tonne/9.9 cents per lb on Monday October 31, down from $100.7/10.07 cents and the lowest level since mid-June.
The drop reflects a fall in miner-to-trader terms into the mid-$90s/9 cents while smelter purchases were reported in the low $100s/10 cents.
- Miner-trader sales down to $90/9 cents, major smelters still hold out for three-digit number
- Escondida shipment delays
- Chinalco starts blending Toromocho material at Ningde
Three deals were heard by Metal Bulletin from the spot market during the second half of October.
A 10,000-tonne cargo of clean concentrate was sold to a smelter at $101/10.1 cents, while a second 10,000-tonne deal was concluded by a Chinese Copper Smelters Purchase Team (CSPT) member at $105/10.5 cents, with copper content of around 25-28% and quotation period...