Spot copper concentrate TC/RCs rise; market locks in annual contracts

Spot copper concentrate treatment and refining charges (TC/RCs) increased at the end of November, with the market busy discussing annual contracts and deals.

The Fastmarkets copper concentrates TC/RC index basis cif Asia Pacific ports was $53.5 per tonne/5.35 cents per lb on November 29, up from $52.2/5.22 cents on November 22.
Although some miners and smelters are yet to conclude annual contracts, a benchmark is being formulated around $62/6.2 cents, the level agreed by miner Freeport-McMoRan and smelter Jiangxi Copper in Shanghai during Asia Copper Week.

Chilean miner Antofagasta is said to be following the number;...

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