Fastmarkets' copper concentrates treatment and refining charge (TC/RC) index shifted higher on Friday July 24 due to shipments from Chile continuing despite concerns over potential coronavirus shutdowns.
The benchmark copper concentrate TC/RC index, cif Asia Pacific rebounded from $45.60 per tonne / 4.56 cents per lb last week, the lowest level since Fastmarkets started publishing the index in 2013.
Traders are offering clean copper concentrates into China in the high $40s / 4 cents and deals have been heard at that level. Brands of nonstandard specification, blends and packages were bought by smelters in the low $50s / 5 cents during the week.
A smelter deal at annual benchmark terms was discarded as in our judgement it is not representative of current market rates....