“I have got inquiries for blister copper from eight refineries in just a week. I haven’t seen anything like that before. It’s such a shame that I do not have anything to sell on spot market now,” a Chinese blister copper trader said.
Blister copper, typically of 98-99% copper content, is an intermediate product in the primary smelting process that uses as feed either copper concentrates, which typically contain 26% copper, or copper scrap.
Blister copper, or sometimes anode and copper billet, is fed into a smelter to produce the high purity 99.935% copper cathodes that are deliverable against exchange contracts.
The Chinese domestic blister copper market is now unusually tight because treatment charges (TCs) - paid to smelters to turn concentrates to blister - on copper concentrates have slumped, discouraging...