Major Chinese smelters granted tariff waiver to import US copper concs amid mine disruptions

Some of China's major copper smelters have obtained approval from the central government to import US-origin copper concentrate without paying the prescribed 25% duty at a time of disrupted global mined copper supply, Fastmarkets has learned.

China's Ministry of Finance Customs Department announced in February that Chinese importers will be able to apply for a tariff exemption on copper concentrate imported from the United States. Applications were accepted from March 2, according to the Chinese State Council website.
China Copper, the country's biggest smelter by capacity, is one of those granted the import duty waiver, a source with direct knowledge of the matter said.
The operator of eight key smelter plants, including Chifeng Copper and Southeast Copper, has a total annual copper smelting capacity of 1.35 million tonnes in China, according to the company website.

The smelter now has tariff-free access to US-origin raw materials, which largely disappeared...

China's gold holdings to central bank reserves still low

China has broad effect on gold market

Gold stocks mixed after previous week's huge gains

Large TSXV gold multiple driven up by high Artemis weighting

Monetary-driven precious metals outperform major base metals