SHANGHAI, Oct. 21 (SMM) – The negotiations over 2016 copper concentrate TC/RCs for term shipment are about to begin. Will the 2016 term TC/RCs for copper concentrate continue rising? 

Ahead of the talks, copper miners and smelters have begun their bets in this see-saw game. On the supply-side, copper mines announced to cut output, while on the demand-front, smelters took unit maintenance.  

With ore supply growing, TC/RCs for copper concentrate have been rising in recent years, but in 2015, spot TC/RCs for copper ore headed to declines due to supply disruption from adverse weather and strike at mines. 

In August, spot TC/RCs for copper concentrate dropped to $80.625 per tonne or cents 8.0625 per lb, the lowest level so far this year, according to SMM data, a drop of $46.875 per tonne or cents 4.8765 per lb from 2014’s peak. 

Chinese smelters asked in late August for a 10% rise in TC/RCs from July’s level, and traders said that domestic smelters had refused to take spot TC/RCs below $90 per tonne or cents 9 per lb for Q3’s shipments. In September, spot TC/RCs for copper concentrate rose from August’s level.  

SMM will hold the 2015 annual summit from Nov. 12-13, and SMM will bring you more information about it. 

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