Oversupply Of Copper Concentrate Helped Spot TCs Continue To Rise

As of last Friday June 2, the SMM Imported Copper Concentrate Index (Weekly) stood at $89.82/mt, $0.76/mt higher than May 26. During the week, the spot transaction of copper concentrate remained quiet, and the demand for copper concentrate from smelters continued to decline.

Traders made a lot of offers for spot goods, which led to an oversupply of spot copper concentrate. Therefore, spot copper concentrate TCs continued to rise to nearly $90/mt. Buyers’ inquiries for clean ore that will be loaded in July were $95/mt, and the sellers’ offers for the clean ore that will be loaded in July were above $88/mt.

The price coefficient of Cu 20% domestic ore stood at 88.5-89.5%.

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