Japanese, Korean smelters likely to follow Freeport-Jiangxi copper TC/RCs benchmark; Chinese peers say ‘disappointing yet acceptable’

Japanese and Korean copper smelters are likely to follow the contract for 2020 treatment and refining charges (TC/RCs) settled by Jiangxi Copper and miner Freeport, with major Chinese smelters also likely to accept the number.

“The benchmark number is the benchmark number. We should respect it,” a source at one of the biggest Asian smelters said.
Freeport agreed an annual TC/RCs deal for 2020 with Jiangxi Copper at $62 per tonne/6.2 cents per lb on the morning of Thursday November 21 while market participants were gathered in Shanghai for the annual Asia Copper Week.

The deal is the lowest annual benchmark...

Published

Julian Luk

November 22, 2019

12:45 GMT

London