Smelter cuts seen driving spot copper TC/RC gains
Dec 26, 2007 | 02:46 PM
| Sean Barry
Maintenance shutdowns slated at several smelters during the first half of next year are expected to release additional copper concentrates onto the market and force spot treatment and refining charges (TC/RCs) higher, trade sources said.
China's Yunnan Copper Industry Co. Ltd. has begun a 45-day maintenance shutdown that will see it cut refined copper production by 30,000 tonnes, traders said.
A company executive reportedly confirmed the closure to a local newspaper while work was being carried out on the refining system, according to a Reuters report.
It comes as the Birla Copper unit of Hindalco Industries Ltd. is planning a 50-day maintenance shutdown at the beginning of May, while Sterlite Industries (India) Ltd. is also set for smelter repairs in the first half, traders said.....
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