Spot treatment and refining charges (TC/RC) for copper concentrates firmed moderately in the last two weeks of April, with the market continuing to weigh strong, short-term market availability against potential major disruptions in the coming months.
Metal Bulletin's copper concentrates TC/RC index ticked higher for the second consecutive fortnight to $68.10 per tonne/6.81 cents per lb on April 30, from $67.20/6.72 cents two weeks prior.Global spot TC/RCs are largely flat but marginal gains reflect traders bidding at higher levels for nearby cargoes.A cargo of Los Bronces copper concentrates was offered into the spot market to traders and bid so far around the $60/6 cents mark with a quotation period of one month after the month of arrival (QP at M+1).Trader and smelter buying levels narrowed to around $12/1.2 cents from $14/1.4 cents last month, according to Metal Bulletin's assessment.Miners have offered limited tonnages, especially for nearby shipment."There aren't a lot of producers knocking at the door right now. My guess is a lot of miners want more clarification on the Sterlite issue," a concentrates trader...