Chinese Copper Smelters Ask for Higher Copper Concentrate Spot TCs for Q3, SMM Reports

SHANGHAI, Jun. 28 (SMM) – Chinese copper smelters raised floor price for copper concentrate spot TCs for Q3 shipments, Shanghai Metals Market learns. 

The China Smelters Purchase Team (CSPT) held a meeting late last week, and decided to set the floor price at $103 per tonne or￠10.3 per lb for spot TCs of copper concentrate in Q3. 

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The price is higher than $100 in Q1 and $85 in Q2, and ample supply and sufficient raw material at smelters are major reasons behind the hike, the CSPT said. 

SMM expects spot TCs for clean concentrate to rise further in the near term due to sufficient supply and the rise in floor price.

Last week, trading for copper concentrate was steady last week, with spot TCs for clean concentrate $100-105 per tonne. 

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