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.....

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