The Metal Bulletin copper concentrates TC/RC index
stood at $66 per tonne/6.6 cents per lb on Thursday March 29, down from $68.6/6.86 cents a fortnight ago.
Copper concentrate TC/RCs, discounts on exchange prices paid to smelters for the costs of processing concentrates into refined metal, have been tracking lower throughout the year with traders looking to lock in business ahead of an expected tight market in the second half of the year.
Smelters have also been secure tonnages, with significant volumes reported to Metal Bulletin, the majority of which was traded at terms in a range of $72-76 per tonne/7.2-7.6 per lb.
This is roughly a $2-3 per tonne drop in TCs against last fortnight’s deals....