Copper concentrate TC/RCs rise further in April on spot availability

Spot treatment and refining charges (TC/RC) for copper concentrates firmed moderately in the last two weeks of April, with the market continuing to weigh strong, short-term market availability against potential major disruptions in the coming months.

Metal Bulletin’s copper concentrates TC/RC index ticked higher for the second consecutive fortnight to $68.10 per tonne/6.81 cents per lb on April 30, from $67.20/6.72 cents two weeks prior.

Global spot TC/RCs are largely flat but marginal gains reflect traders bidding at higher levels for nearby cargoes.

A cargo of Los Bronces copper concentrates was offered into the spot market to traders and bid so far around the $60/6 cents mark with a quotation period of one month after the month of arrival (QP at M+1).

Trader and smelter buying levels narrowed to around $12/1.2 cents from $14/1.4 cents last month, according to Metal Bulletin’s assessment.

Miners have offered limited tonnages, especially for nearby shipment.

“There aren’t a lot of producers knocking at the door right now. My guess is a lot of miners...


Archie Hunter

Julian Luk

May 01, 2018

11:55 GMT