Copper concentrate treatment and refining charges (TC/RCs) rose to their highest in a year as the market gathered in London for LME Week.
The Fastmarkets copper concentrate TC/RC index came in at $89 per tonne / 8.9 cents per lb on Monday October 15, a gain of $2.60 / 0.26 cents week on week to the index's highest level since October last year.Spot copper concentrates trading has been limited, with the industry less active at the start of annual contract negotiations. But in recent deals, traders have been increasingly less inclined to bid aggressively on spot copper concentrate TC/RCs; the gap between where traders and smelters are purchasing tonnes also dropped, to $4.60 / 0.46 cents.This comes as mining companies continue to release tonnes into the spot market after having held off selling earlier in the year, in the hope that smelter disruptions would fade and the market would once again become...