Short supplies, higher demand lower blister copper RCs

SHANGHAI, Aug 24 (SMM) – Environmental restrictions and falling prices of copper continued to limit supplies and to lower refining charges (RCs) for blister copper on the week ended Friday August 24. 

As of August 24, imported blister copper RCs were mostly offered at $180-200/mt cif, and charges for domestic cargoes delivered to plants stood at 1,500-1,700 yuan/mt, SMM learned.

Demand for blister copper will grow as new capacity is commissioned across China. SMM expects RCs to face further downward pressure in the short run.

Environmental probes and a falling copper market kept operating rates at lows across blister copper producers that utilise copper scrap as raw materials, SMM learned.