Short supplies lower blister copper RCs

SHANGHAI, Aug 2 (SMM) – Falling prices of copper limited supplies and lowered refining charges (RCs) for blister copper on the week that ended Thursday August 2. 

RCs for imported blister copper dipped faster than that of domestic cargoes, SMM learned. Expectations of a strike at the world's largest copper mine, BHP Billiton's Escondida mine in Chile, also weighed on RCs. SMM expects RCs to face further downward pressure in the short run.

Environmental probes and a falling copper market kept the operating rate at lows across blister copper producers that utilise copper scrap as raw materials.

As of August 2, imported blister copper RCs were mostly offered at $190-210/mt cif, and the charges stood at 1,600-1,800 yuan/mt for domestic cargoes delivered to plants, SMM learned.