Terms for blister copper refining charges (RCs) in China dropped notably month on month in July while declining copper scrap imports gave rise to additional demand for overseas blister copper.
Metal Bulletin assessed the monthly blister copper 98-99% spot RC, cif China, at $200-210 per tonne on July 31, with African tonnages reported sold within the range in July. One major blister copper buyer in China also received offers around this level. This is also a decrease from the RC level of $215-235 per tonne assessed on June 29."Many US copper scrap cargoes had to be deported from southern China after failing the impurities...