Copper TC/RCs could spike on Vedanta force majeure

Apr 04, 2013 | 06:15 PM | Mark Burton

Tags  copper, Vedanta Resources, treatment charges, Sterlite Industries, force majeure

LONDON — Treatment and refining charges (TC/RCs) for copper concentrates could spike in the near term after Vedanta Resources Plc’s declaration of force majeure at its Tuticorin smelter in India.

Spot TC/RCs for clean copper concentrates have been quoted at about $55 per dry metric ton/5.5 cents per pound in recent weeks, down from spot TC/RCs as high as $80/8 cents earlier in the year as new mine supply entered the market. But terms may rise again if the Tuticorin outage lasts more than two to three weeks, a smelter source said. ....

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