Copper TCs settle near $95 a tonne traders

Dec 07, 2005 | 02:18 PM |

Benchmark copper treatment and refining charges (TC/RCs) for 2006 have settled at about $95 a tonne/9.5 cents a pound, according to traders.

The benchmark figure, which includes full price participation, follows a recent settlement between Freeport-McMoRan Copper & Gold Inc., New Orleans, and several leading Japanese smelters. Brazil's Cia. Vale do Rio Doce (CVRD) is understood to also have agreed to the $95/9.5-cent figure with the Japanese, traders said.

The figure is above the 2005 annual contract figure of about $85 a tonne/8.535 cents a pound but below the record-high midyear number around $115/11.5 cents.....

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