Fastmarkets copper concentrates treatment and refining charges (TC/RCs) continued to increase this week, with smelters and traders now largely squared for the first quarter.
The index on a cif Asia Pacific basis stood at $56.2 per tonne/5.62 cents per lb, up slightly from $56.1/5.61 cents a week ago. Traders are looking to pick up mined tonnages at or around $50 per tonne/5 cents per lb; while tenders and private deals see material changing hands at $45-52 / 4.5-5.2 cents levels. Meanwhile, smelters are buying at a level around above $60 per tonne/6 cents per lb, even though spot buying is not active ahead of Lunar New Year at the end of this month. While major smelters are generally covered for the first quarter, attention remains on the industry's plan to cut capacity and...