The China Smelters Purchase Team (CSPT) has set its treatment and refining charges (TC/RCs) purchase price floor for the first quarter of 2020 at $67 per tonne and 6.7 cents per lb, sources told Fastmarkets on Thursday December 26.
The CSPT, which comprises purchasing managers from the country's largest copper smelters, made the decision at its quarterly meeting in Fuzhou city, Fujian province, on Thursday.Another topic being discussed at the CSPT meeting in Fuzhou on Thursday, according to sources, was the possibility of production cuts owing to the low spot TCs and unprofitable prices...