NEWSBREAK: Tongling, Freeport agree 2018 TC/RCs at $82.25/8.225 cents [UPDATE 2]

Tongling Nonferrous Metals Group and Freeport-McMoRan have agreed to set 2018 copper treatment and refining charges (TC/RCs) at $82.25/8.225 cents, sources close to the matter told Metal Bulletin on Wednesday December 27.

This is down from the $92.50/9.25 cents in 2017 agreed between Jiangxi Copper and Freeport.
Jiangxi Copper said it will follow the number negotiated by its peer Tongling Nonferrous, in line with the policy of members of the Chinese Smelters Purchasing Team (CSPT) to all stick to a single figure, a source told Metal Bulletin.
Antofagasta, the other party on the miners' side that is involved in the long-term contract negotiations, has yet to reach an agreement with smelters.

It viewed the numbers reached between Freeport and Tongling as not accurately reflecting the current market situation, a source told Metal...


Kiki Kang

December 28, 2017

02:28 GMT