Japanese under pressure to accept copper TC/RCs

Dec 19, 2006 | 02:20 PM | Sean Barry

Japanese smelters are facing an uphill battle to win more favorable copper treatment and refining charges (TC/RCs) after most Chinese smelters reportedly booked annual deals with BHP Billiton at $60 per tonne/6 cents per pound with no price participation, according to trader sources.

With South Korean and Indian smelters also agreeing to the $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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