SHANGHAI, Jul. 8 (SMM) - Copper concentrates imported into China through Port of Nantong surged in the first half as Tongling Nonferrous Metals Group increased inbound cargoes.
Nantong port in Jiangsu province handled 1 million tons of inbound shipments of copper concentrates between January and June, comparing to 1.07 tons for the whole year of 2012, China Inspection and Quarantine Times reported today.
A 10% increase in treatment and refining charges (TC/RCs) of copper concentrates this year increased profit margins at smelting companies, leading them to raise imports, the official newsletter said. Capacity expansions at Chinese smelters also helped, it added.
Tongling Nonferrous, which is the largest importer of copper concentrates at Nantong port, completed the world’s biggest flash smelting and flash converting facilities this February, the paper said. The completion increased the smelter’s annual capacity by 400,000 tpy, generating huge demand for raw material, it said.
By contrast, however, Port of Fangcheng in Guangxi Zhuang Autonomous Region handled far less copper concentrates this year as nearby companies sank into operational difficulties, the newsletter reported.
Inbound cargoes of copper concentrates at Fangcheng fell 77.4% year-on-year to 40,200 tons between January and May this year, it said.
Beihai overtook Fangcheng as the largest copper concentrate import port in the Guangxi region in the same period, handing over 60,000 tons of the raw material, it said.