Japanese, Korean smelters likely to follow Freeport-Jiangxi copper TC/RCs benchmark; Chinese peers say 'disappointing yet acceptable'

Japanese and Korean copper smelters are likely to follow the contract for 2020 treatment and refining charges (TC/RCs) settled by Jiangxi Copper and miner Freeport, with major Chinese smelters also likely to accept the number.

"The benchmark number is the benchmark number. We should respect it," a source at one of the biggest Asian smelters said.
Freeport agreed an annual TC/RCs deal for 2020 with Jiangxi Copper at $62 per tonne/6.2 cents per lb on the morning of Thursday November 21 while market participants were gathered in Shanghai for the annual Asia Copper Week.

The deal is the lowest annual benchmark...

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