Short supplies lower blister copper RCs

Published: Aug 3, 2018 09:19

Save

Falling prices of copper limited supplies and lowered RCs for blister copper on the week that ended Aug 2

SHANGHAI, Aug 2 (SMM) – Falling prices of copper limited supplies and lowered refining charges (RCs) for blister copper on the week that ended Thursday August 2.

RCs for imported blister copper dipped faster than that of domestic cargoes, SMM learned. Expectations of a strike at the world's largest copper mine, BHP Billiton's Escondida mine in Chile, also weighed on RCs. SMM expects RCs to face further downward pressure in the short run.

Environmental probes and a falling copper market kept the operating rate at lows across blister copper producers that utilise copper scrap as raw materials.

As of August 2, imported blister copper RCs were mostly offered at $190-210/mt cif, and the charges stood at 1,600-1,800 yuan/mt for domestic cargoes delivered to plants, SMM learned.

Market commentary Blister copper Refining charges

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

19 mins ago

High Price Spread Double Suppression, End-Users Wait and See as Trading Turns Light [SMM North China Spot Copper Cathode Weekly Review]

19 mins ago

51 mins ago

Southern Hemisphere Mining to Launch New Drilling Campaign at Chile’s Llahuin Copper-Gold-Moly Project

Southern Hemisphere Mining plans to begin a 10-week diamond drilling campaign at the Ferro South target within its 100%-owned Llahuin copper-gold-molybdenum project in Chile. The program will follow up previously reported broad copper intersections and further test the scale and continuity of the interpreted porphyry system.

51 mins ago

1 hour ago

DLP Resources Secures Permits for First-Ever Drilling at Esperanza Copper-Gold Project in Peru

DLP Resources has received all permits required to begin the first-ever drilling program at its Esperanza copper-gold-molybdenum project in southern Peru, with drilling scheduled to start on September 18. The initial program will include three approximately 800-metre holes targeting a deep porphyry system beneath a 5.0 × 2.5 km magnetic anomaly. Esperanza lies about 35 km southwest of Freeport-McMoRan's Cerro Verde mine within Peru's major southern copper belt.

1 hour ago