SHANGHAI, Dec 3 (SMM) – As of Monday December 3, refining charges (RCs) for both domestic and imported blister copper offered higher than in mid-November. This came after a lower 2019 copper concentrate TC, set by Jiangxi Copper and Antofagasta, lowered RCs in mid-November.
Year-end cash flow issues deterred smelters from purchasing blister copper. This, together with capacity cut at a smelter in Shandong province, lowered overall demand and buoyed RCs.
Imported blister copper RCs were mostly offered at $170-190/mt cif as of Monday, compared with the average $160-170/mt in mid-November. Charges stood at 1,500-1,700 yuan/mt for domestic cargoes delivered to plants. This compared with RCs of 1,400-1,600 yuan/mt in the middle of November.
Monday saw limited transactions, SMM learned.
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