Escondida to press for lower annual TC/RCs
Oct 25, 2005 | 12:35 PM
| Sean Barry
Chilean copper producer Minera Escondida Ltda. is expected to push for lower copper treatment and refining charges (TC/RCs) in 2006 following reports that it had settled a new contract with a Polish smelter owned by KGHM Polska MiedÅº SA at about $88 a tonne/8.8 cents a pound.
Trade sources said the Santiago, Chile,-based company signed a multiyear deal with the KGHM smelter that includes full price participation.With negotiations for 2006 contracts now under way, traders said they expect Escondida to try to use the deal as a benchmark. But it is likely to be rejected by smelters because they continue to hold high inventory levels following a ramp-up in production, according to trade sources.....
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