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."....

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