Spot blister copper RC widens in China while scrap tightness persists

The range in refining charges (RC) paid for copper intermediate products cif China diverged in June due to traders willing to agree lower fees for tonnages and smelters less desperate for blister copper amid sufficient domestic scrap supply.

Fastmarkets assessed the copper blister 98-99% RC spot, cif China at $110-132 per tonne on June 30, down by $5 per tonne on the low end but up by $7 per tonne on the top end from $115-125 per tonne a month ago.
An 8,000 tonne-spent anode tender from Codelco for July and August shipment of different specifications was awarded to traders at the low $110s-low $120s per tonne last week, Fastmarkets learned.

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