BHP settles ’08 TC/RC with Indian smelter [UPDATE]
Nov 29, 2007 | 08:08 AM
| Sean Barry
BHP Billiton, majority owner of Minera Escondida Ltda. in Chile, has settled a copper treatment and refining charge (TC/RC) contract for 2008 with an unidentified Indian smelter at $45 per tonne/4.5 cents a pound, according to trade sources.
Although the deal has not been greeted as a benchmark that other settlements would be pegged against, traders said it will have an impact on discussions between BHP and Japanese smelters next week.
"The Indian deals are not benchmark settlements but this will have a knock-on effect," one trader said. "It's a credible deal because there's no trader involvement and the Indian smelters have been around for some time."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here