Chinese smelter heard purchasing copper concentrate from Gresik above usual TCs

Published: Nov 30, 2018 08:57 (GMT+8)

Save

A Chinese smelter was heard to have purchased some 130,000 mt of copper concentrate from Gresik smelter with TCs at triple digits

SHANGHAI, Nov 29 (SMM) – Market talk suggested that a large Chinese copper smelter purchased some 130,000 mt of copper concentrate from Gresik smelter in Indonesia with treatment charges (TCs) in the triple digits, much higher than the current spot TCs of $95/mt.

It is reported that PT Smelting declared force majeure at its Gresik smelter and diverted concentrate supply to the spot market. With capacity of 300,000 mt/year, the smelter is undergoing maintenance that was scheduled to be completed a month ago.

Most copper concentrate the Gresik smelter manufactures comes from the Grasberg gold and copper mine in Papua province in Indonesia.

SMM learned that some of Gresik’s copper concentrate has entered Chinese markets.

At the start of November, Chinese copper smelter Jiangxi Copper and Chilean miner Antofagasta agreed to lower 2019 long-term TCs to $80.8/mt earlier this month. Such low price prompted some smelters to delay signing long-term contracts.

Copper Copper concentrate TCs Treatment 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

Sep 26, 2026 01:38 (GMT+8)

Peru sees 1 million t/y copper output boost within five to six years

Peru's Energy and Mines Minister Guillermo Shinno said the country expects to add about 1 million tonnes of annual copper production within five to six years through new mining projects. The world's third-largest copper producer anticipates 2026 output of 2.5 to 2.7 million tonnes, roughly unchanged from 2023 as declining ore grades and recurring social conflicts weigh on supply. The newly elected government is seeking to reverse that stagnation by cutting red tape; in the two months since taking office, mining companies have stepped up engagement with the ministry. Shinno said officials have identified 27 permits that could be eliminated from roughly 100 mining-sector requirements, without lowering environmenta

Sep 26, 2026 01:38 (GMT+8)

Sep 25, 2026 20:26 (GMT+8)

India copper producers seek GST cut as record prices raise working-capital burden

Indian copper producers are seeking a GST cut to 5% from 18%, citing rising working-capital requirements amid record-high copper prices.

Sep 25, 2026 20:26 (GMT+8)

Sep 25, 2026 16:43 (GMT+8)

Sulphuric Acid Shortage Emerges as a Constraint on Zambia’s Copper Growth

Zambia’s sulphuric acid shortage is becoming a growing constraint on copper production and refining. Jubilee Metals reported acid costs rising by more than 200% in Q4 FY2026, while Sable cathode output fell to 250 t from 361 t in Q3. Government data also showed small-scale copper production down 35.2% YoY in H1 2026, highlighting the sector’s exposure to tight acid availability and higher processing costs.

Sep 25, 2026 16:43 (GMT+8)