Copper concentrate treatment and refining charges (TC/RCs) for Asia Pacific fell to their lowest in at least six years, squeezed by the smelter consumption ramp-ups and against a backdrop of tightening supply.
Fastmarkets' cif Asia-Pacific spot copper concentrate TC/RC index was calculated at $62.10 per tonne/6.21 cents per lb on April 15, down from $66.70 per tonne/6.67 cents per lb in late March. The level, which is the lowest recorded by Fastmarkets since it started indexing copper concentrates, comes with some shorts still buying up tonnes ahead of blocked copper mine Las Bambas' resumption of exports last weekend. Terms paid for concentrates have dropped with smelters now in the market for tonnages below...