Is CSPT’s Floor Price for Q3 Copper Concentrate Spot TCs Simply Symbolic? SMM Reports

Published: Jul 3, 2017 15:19

Save

The China Smelters Purchase Team (CSPT) finally decided to set the floor price of spot TCs for imported copper concentrate at $ 86/tonne and ¢ 8.6/lb in Q3.

SHANGHAI, Jul. 3 (SMM) – The China Smelters Purchase Team (CSPT) finally decided to set the floor price of spot TCs for imported copper concentrate at $ 86/tonne and ¢ 8.6/lb in Q3.

If spot TCs fail to reach $ 86/tonne in Q3, the floor price will be simply symbolic, SMM understands.

The level of $ 86/tonne was considered a relatively high price in previous spot deals. Some market players see a small chance for spot TCs to exceed $ 86/tonne in Q3.

Some smelters, however, are optimistic that spot TCs will probably rise further to $ 85-90/tonne in Q3 as they expect concentrate supply in spot market to continue recovering.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

copper concentrate spot TCs CSPT

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 mins ago

[SMM Analysis] US Refined Copper Tariff Uncertainty Returns—What Does It Mean for Global Copper Scrap?

[SMM Analysis: US Refined Copper Tariff Uncertainty Returns—What Does It Mean for Global Copper Scrap?] US refined copper tariff uncertainty is reshaping global copper flows. If tariffs proceed, a wider COMEX-LME spread could draw more cathode into the US and support scrap demand elsewhere. If delayed or cancelled, the spread may narrow and weaken scrap payabilities. However, low global scrap inventories and tight VAT-invoiced supply in China make a sharp correction unlikely.

11 mins ago

23 mins ago

Copper price pullback drives pricing demand; Shanghai spot copper premiums' decline temporarily eases [SMM Shanghai spot copper weekly review]

23 mins ago

46 mins ago

[Imported copper concentrate spot premium initially fell then rose during the week, with SHFE/LME price ratio sharply recovering at week's end [SMM Yangshan copper weekly review]]

46 mins ago