Blister copper refining charges (RCs) in China edged down in May as spot tonnages were sought following the recent shutdown of several domestic primary smelters and a continued fall in copper scrap imports.
Metal Bulletin assessed RCs for 98-99% blister copper on a cif China basis at $210-230 per tonne on Thursday May 31, down $15 month on month, with several spot deals of African tonnages settled within the range. "Last week, I had already sold the last spot tonnages designated for the Chinese market this year. The bids now are attractive, but there is nothing left," a major blister copper producer source told Metal Bulletin. Deals were reported at the $230s [per tonne] level at the beginning of the month and dropping towards the end of month to the $210s [per tonne] level, according to multiple seller and buyer sources. Stocks of blister copper have been drawn...