SHANGHAI Aug. 01 (CBI China)--Copper spot TC/RC saw slight increases, with TC/RC in the USD 40/mt (USD 0.04/lbs) to USD 42/mt (USD 0.042/lbs) range for 26%-28% copper concentrate. TC/RC of 22% copper concentrate was USD 45/mt (USD 0.045/lbs), but some TC/RC was also heard at USD 37/mt (USD 0.037/lbs). Transactions in spot copper concentrate improved slightly, but were still modest.
Sources report members of China Smelters Purchase Team (CSPT) required TC/RC of imported copper concentrate to be USD 45/mt and USD 0.045/lbs from mid-June to late September, and would not purchase goods below this level. According to CBI sources, most smelters carried through on their statements.
The majority of copper smelters showed limited purchasing interest for spot copper concentrate, in view of stable supply from long contracts and slow domestic demand.