SMM understood that Antofagasta and Chinese smelters finalised Cu 50% copper concentrate TC/RCs under long-term contracts for 2024 at $88/mt and $0.088/mt, up $12/mt and $0.012/mt respectively, from those 2022.
Antofagasta, Japanese and South Korean smelters finalised copper concentrate TC/RCs under long-term contracts for the second half of 2023 to the first half of 2024 at $88/mt and $0.088/mt, up $13/mt and $0.013/mt respectively, from those between the second half of 2022 and the first half of 2023.

![China’s Copper Anode Imports Edged Up YoY in January-February 2026, with Growth Expected in Q2 [SMM Analysis]](https://imgqn.smm.cn/usercenter/XTMPt20251217171713.jpeg)

