SHANGHAI, Dec. 4 (SMM) - Nine Chinese copper smelters, including Jiangxi Copper and Tongling Nonferrous Metals Group Holding Co., decided to cut refined copper output by over 350,000 tonnes in 2016 to support copper prices. How will this affect term TCs of copper concentrate next year?
“Sliding ore demand, combined with growing supplies of copper concentrate should shore up term TCs of copper concentrate in 2016” said an SMM copper analyst. “The output cut will give little boost to copper prices, though.”
Talks on term TCs for 2016 started in September, but no deal has been reached between Chinese copper smelters and overseas mines yet.
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