Japanese smelters feel heat after Chinese settle TC/RCs
Dec 19, 2006 | 08:07 AM
| Sean Barry
Japanese smelters are facing an uphill battle to win more favorable copper treatment and refining charges (TC/RC) after most Chinese smelters reportedly booked annual deals with BHP Billiton at $60 per tonne/6 cents a pound with no price participation, according to trade sources.
With South Korean and Indian smelters also agreeing to the lower $60/6-cent rate, companies in Japan are under increasing pressure to accept it as the benchmark for 2007 contracts. However, they are pushing for improved side deals, such as longer payment terms, traders said.....
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