Spot TC/RCs for copper expected to climb if Altonorte goes on strike
Dec 12, 2006 | 09:37 AM
| Sean Barry
A potential strike at Xstrata Plc's Altonorte copper smelter in Chile could release more copper concentrate onto the market and raise spot treatment and refining charges (TC/RCs), according to traders.
Spot TC/RCs have increased steadily in recent weeks as miners run down inventories ahead of the end of the year in order to balance their books.
"If production at Altonorte is hit then it will release even more units onto the market and give prices a boost," one concentrates trader said. "There's been a lot of nearby material coming out over the last two months because of the year-end and the stock run-down. Smelters are already well covered for concentrates."....
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