“This is [a] natural transition of the industry,” Pawel Gruza told Fastmarkets in an interview on the sidelines of Asia Copper Week on Thursday November 21.
Copper concentrate treatment and refining charges (TC/RCs) prices are fees paid to smelters by miners to process the raw materials into copper cathode. Low TCs mean higher costs of copper concentrates.
Fastmarkets’ benchmark copper concentrate TC/RCs index, cif Asia Pacific
plummeted by 41.6% to a record low of $49.20 per tonne / 4.92 cents per Ib on August 30 from $84.30 per tonne/8.43 cents per Ib on December 31, 2018, due to a surge in spot demand following China’s smelting capacity expansions that began in 2018.
After recovering slightly to $56.70 per tonne / 5.67 cents per lb on October 11, the index has retreated again to $52.20 / 5.22 cents a month later on November...