BHP and Japan, S.Korean Smelters Agree TC/RC at $63.5/6.35 Cents - Sources-Shanghai Metals Market

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BHP and Japan, S.Korean Smelters Agree TC/RC at $63.5/6.35 Cents - Sources

Industry News 09:36:49AM Jun 28, 2012 Source:SMM

TOKYO, June 27 (Reuters) - BHP's majority-owned Escondida mine and two Japanese and a South Korean smelter have agreed to mid-term copper concentrate treatment and refining charges of $63.5 a tonne and 6.35 cents a pound, the same as the 2012 annual term contract price set with Freeport McMoRan Copper and Gold late last year, trade and smelter sources said on Wednesday.

BHP initially offered $62/6.2 cents, but was forced to pay higher prices to smelters as production at the Escondida mine in Chile, the world's biggest, has not been smooth, one source said.

 

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BHP and Japan, S.Korean Smelters Agree TC/RC at $63.5/6.35 Cents - Sources

Industry News 09:36:49AM Jun 28, 2012 Source:SMM

TOKYO, June 27 (Reuters) - BHP's majority-owned Escondida mine and two Japanese and a South Korean smelter have agreed to mid-term copper concentrate treatment and refining charges of $63.5 a tonne and 6.35 cents a pound, the same as the 2012 annual term contract price set with Freeport McMoRan Copper and Gold late last year, trade and smelter sources said on Wednesday.

BHP initially offered $62/6.2 cents, but was forced to pay higher prices to smelters as production at the Escondida mine in Chile, the world's biggest, has not been smooth, one source said.