The 10 biggest copper smelters in China set the fourth-quarter base price for treatment charges and refining charges (TC/RCs) at $90 per tonne /9 cents per lb on Friday September 21, sources with direct knowledge of the matter told Metal Bulletin.
The number was set at a meeting in Shanghai of representatives from The China Smelters Purchase Team (CSPT). The figure was not formally announced, following on from the last quarter when the CSPT did not set an official base level for the first time in over 15 years. Metal Bulletin reported earlier this year that the group also saw the price floor at above $90 per tonne and $0.09 per lb for the third quarter. "We [CSPT smelters] are already quite well stocked for fourth-quarter production as we...