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.

Mainstream refining charges (RCs) of domestic blister copper stood between 1,350 -1,550 yuan/mt on a delivery to factory basis in October, with the monthly average RCs down 50 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

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

Three local mills were required to cut emissions by at least 30% from Nov 1 to Feb 28, 2019

The Oct's PMI was 1.7 higher from Sep, and above the 50-mark that separates expansion from contraction

The instruction came even as the plant already met ultra-low emission standards