China copper smelters raise TCs for Q1 2019

SHANGHAI, Dec 28 (SMM) – China’s top copper smelters set their floor treatment charges (TCs) for the first quarter of 2019 at $92/mt, SMM learned on Thursday December 27.

The floor charges, the minimum miners pay smelters to process their copper concentrate into refined metal, were agreed at a meeting of the China Smelters Purchase Team (CSPT) on December 27. China is the world’s top copper consumer.

The floor TCs rose $2/mt from the previous quarter, given weak purchasing enthusiasm among smelters. Smelters showed relatively strong interest in resources that are expected to arrive in China in March, while traders held their offers firm.