EXCLUSIVE: Antofagasta signs H1 2021 copper TC/RC contracts with Tongling, Jiangxi Copper in low $60s/t

Chilean copper miner Antofagasta has agreed to supply major Chinese smelters Tongling Nonferrous and Jiangxi Copper with copper concentrates in the first half of 2021, Fastmarkets understands.

The negotiations were led by Tongling Nonferrous and final treatment and refining charges (TC/RCs) were settled at $60.8 per tonne/6.08 cents per lb, a source with direct knowledge of the matter said.
“The figure was then followed by Jiangxi Copper,” the source added.
A third major Chinese smelter, Jinchuan, which has 750,000 tonnes per year of smelting capacity, was also said to be involved in negotiations, but a source from the company told Fastmarkets that “we have not signed as yet”.

The...

Published

Anna Xu

July 02, 2020

08:53 GMT

Shanghai