More imports, slower demand buoy RCs of imported blister copper

SHANGHAI, May 9 (SMM) – Greater imports in the first quarter of the year and slower domestic demand kept up refining charges (RCs) for imported blister copper in early May. RCs stood at $220-240/mt cif and at 1,800-2,000 yuan/mt for goods delivered to factory at domestic smelters, SMM learned. 

RCs began to climb from the start of March, when they stood above 1,300 yuan/mt.

In the first quarter of 2018, China's imports of blister copper increased 16.5% from the same period last year. Demand for blister copper dropped as there were fewer maintenance works across smelters that used copper concentrate to produce refined copper. High inventories across major consumers of blister copper also hampered demand.

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