30 March 2023 / IMPRESE

China: $90/mt for copper concentrate processing

A lower target price for treatment and refining charges (TC/RC)

China’s major copper smelters have agreed on a lower target price for treatment and refining (TC/RC) charges for copper concentrate processing in the second quarter of 2023 due to supply disruptions, three sources familiar with the matter said.

The rates of $90 per tonne and 9 cents per pound were decided at a China Smelters Purchase Team (CSPT) meeting on Thursday, the sources said. The new prices are lower than the spending forecast set at $93 per tonne and 9.3 cents per pound for the first quarter of this year. First-quarter costs were at their highest in five years and reflect market expectations of a supply shortage this year. But recent disruptions in some key producing regions have raised concerns about short-term shipments to China, the world’s largest copper consumer.

“The logistical hurdles experienced in February could affect copper shipments to China in April and May. And the disruptions in the mining sector have yet to be fully recovered,’ said one of the sources, who attended Thursday’s meeting. “But we still expect the supply to be sufficient.” (reuters)



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