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.
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