Copper Concentrate Supply Threat Remains, with Spot TCs Unchanged, SMM Reports

SHANGHAI, Jul. 14 (SMM) - Spot TCs for imported copper concentrate held stable this past week, according to SMM data. As of July 14, spot TCs for copper ore were offered $80-85 per tonne.  

SMM Copper Demand Surprise Index: China Copper Demand Outperforms Expectation both in June and July 2017

The imported copper concentrate market was quiet this past week, with mainstream offers for clean ore at $80-83 per tonne, and overall supply & demand dynamics was in a stalemate. Large copper smelters relied on long-term contracts, releasing limited demand for spot ore. Offers for blended ore were mainly between $90-95 per tonne. 

In other news, Workers at Zaldivar copper mine in Chile voted for strike, but has not officially started for a government mediation. In addition, Argentina’s federal court has ordered the suspension of activities at Glencore's Alumbrera gold and copper mine as part of a pollution complaint. Hence, global copper ore supply still face threats from uncertainties. 

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