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

Published: Jul 14, 2017 20:06

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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.

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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copper concentrate copper concentrate imports TC/RC

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.

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