Chinese blister copper RC drops in April amid falling scrap supply

Refining charges (RC) for blister copper, a substitute for copper scrap in refined production, fell in April following a drop in scrap imports into China.

Metal Bulletin assessed RCs for 98-99% blister copper on a cif China basis at $225-245 per tonne on Monday April 30, down $5 month on month, with several spot deals of African tonnages settled within the range.
A cif Shanghai blister copper tender of around 1,500 tonnes from a major Chilean copper producer was heard to go at around $230-240 per tonne while some smaller parcels were settled at higher levels.
“Some new active traders [in China] are looking for tonnages,” a producer source said.

The levels for imported blister copper RCs are now close to the domestic RC of 1,600-2,000 yuan...

Published

Julian Luk

May 02, 2018

16:20 GMT

London