Copper TC/RCs edge higher after cargoes diverted to spot market, but tightness remains a concern

Spot copper concentrate treatment and refining charges (TC/RCs) inched higher in early January after several cargoes were released into the spot market due to disruptions at Asian smelters, but supply tightness remains a concern amid solid buying interest.

The Metal Bulletin copper concentrates TC/RC index stood at $81 per tonne/81 cents per lb on Monday January 15, up slightly from $79.80/7.98 cents at the end of 2017, when the index had hit a four-month low in line with the lower annual TC/RCs benchmark agreed between Freeport McMoRan and Tongling Nonferrous for 2018.
Spot TC/RCs edged higher in response to news that operations at Glencore’s Pasar copper smelter and refinery in Philippines have been suspended since early January due to a technical failure, and cargoes from the facilities were being diverted into the spot market.

“If this continues you may see more...

Published

Danielle Assalve

Kiki Kang

Archie Hunter

January 16, 2018

08:00 GMT

Shanghai, London, São Paulo