PPC is Asia’s largest copper smelter outside of China and produces over 740,000 tonnes per year of refined copper. The $86 per tonne annual long contract premium for 2019 is $14, or 19%, higher than the 2018 level.
The offer is $2 per tonne lower than Codelco’s benchmark offer of $88 per tonne
for 2019. PPC’s 2018 offer was $3 per tonne lower than Codelco’s offer of $75 per tonne.
The higher premium this year from PPC is mainly...