SHANGHAI, Nov.27 (SMM)－Last week the entire copper concentrate market is cold, with little transaction willingness of demand and supply, Up to last Friday, SMM spot TC offers at $85-93 per ton, keep same level as previous times.
Reviewing recent market, the overall atmosphere is prudent before the negotiation of long-term order. CSPT members insist on floor price of Q4. SMM learned that recently one CSPT smelting plant reached a transaction with a trader for clean ore of TC95, which is scarce in recent times. Overall speaking, stock holders are not active in offering but waiting for direction of negotiation results. With sufficient stock of smelting plants, thet are not eager to ship goods. Both sides are struggling with focus on CESCO meeting next week.
Last week see frequent news of copper mines strike. On Tuesday mines of Southern Copper in Peru was hit by a strike and then staff reduction plan of Escondida leads to dissatisfaction of labor union, causing strike of workers. The union says the operation of Escondida has suspended due to strike but the official says the operating work is still going on despite slower speed. As per reflection in the market, the strike will not have great impact on the copper market.
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