Copper smelters poised to win 51 percent hike in 2011 TC/RCs
Jan 25, 2011 | 10:51 AM
Major Chinese copper smelters are close to securing a 51-percent hike in 2011 treatment and refining charges (TC/RCs) with BHP Billiton, market players said.
Chinese TC/RCs are poised to rise this year with concentrate in relatively good supply, scrap prices down and a pullback in Chinese smelting capacity after emissions-related shutdowns last year.
Sources close to Jiangxi Copper Corp. said the company has yet to sign a contract, but important details like prices have been worked out.
A 51-percent rise on last year's TC/RCs of $46 per tonne/46 cents per pound would take them to nearly $70/70 cents.
"Copper scrap prices have stayed low for quite a while compared with the refined price. Many local smelters are therefore using more scrap for smelting," an analyst in Chengdu, Sichuan province, said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.