RCs of imported blister copper up through Jun

Jiangxi Copper and Chambishi, a Zambian blister copper producer under China Nonferrous Metal Mining Group, set the benchmark refining charge (RC) for imported copper anode at $145/mt cif, in their 2021 long-term contracts, rising significantly from the $128/mt in 2020, which indicates market expectations of ample blister copper supply in the future.

Mainstream refining charges (RCs) of domestic blister copper stood at 1,450-1,550 yuan/mt in December, delivery to factory, an average increase of 25 yuan/mt from the previous month.

This will intensify a shortage in China’s blister copper market after more smelters in the north underwent annual maintenance

China imported 86,400 mt of copper anode in Jan, up 61% month on month and 22% year on year

As of Mar 1, RCs for imported blister copper were mostly offered at $175-185/mt cif

As of Wednesday Feb 13, RCs for domestic blister copper were mostly offered at 1,500-1,600 yuan/mt

Imported blister copper RCs were mostly offered at $145-155/mt cif as of Monday

The agreement was signed during the first-ever China International Import Expo on Tuesday Nov 6

The most traded SHFE zinc contract fell for the third straight week, in the week ended Nov 2

Spot discounts in Shanghai were heard at 50-40 yuan/mt, compared to 40-30 yuan/mt in the previous day