China top copper smelters’ Q2 TC around mid-$60s; no formal price set

China’s biggest copper smelters have formed a general consent that the price floor for treatment charges for the second quarter could be around the mid-$60s due to disruption risks from major mines and less offers for spot tonnages, they said in an online meeting on April 8.

The Chinese Smelters Purchase Team (CSPT) met in a virtual space to discuss the second-quarter treatment charge, although a formal guiding price was not settled at the meeting due to the great uncertainty about the future amid the Covid-19 pandemic, sources with direct knowledge of the matter told Fastmarkets.
“Some CSPT members proposed to set the price at $62-65 per tonne, while many smelters, with consumption booked for April-June, wanted a price in the high $60s,” one source told Fastmarkets.

CSPT members - including Jiangxi Copper, Tongling Nonferrous and China Copper - are generally well-stocked for raw material in the coming months,...

Published

Anna Xu

Julian Luk

April 08, 2020

10:00 GMT

Shanghai