SHANGHAI, Jan. 15 (SMM) -- One person familiar with the situation said on Friday that some Japanese Copper smelters have reached a 2010 TC/RC agreement with BHP Billiton, down 38%.
TC/RC of copper concentrate was finalized at USD 46.5/mt (cents 4.65/lbs), the same as fees signed in late 2009 between Freeport and copper smelters.
The person familiar with the negotiations who declined to be named said Japanese have accepted the price level, which is flat with levels finalized by Freeport.
Market rumored one large-size ore suppliers are looking for larger declines of about 43%.
As of early Friday, Jiangxi Copper Company, the largest copper smelter in China has not signed a deal with BHP Billiton for 2010 copper concentrate TC/RC.
Previously, both Japanese and Chinese copper producers generally believe the fees signed between Freeport and some copper smelters will become the benchmark for 2010 TC/RC.
(Edited by SMM)