SHANGHAI, Nov 30 (SMM) – Offers for imported copper concentrate treatment charges (TCs) gained $1/mt over the week ended Friday November 30, to $91-95/mt, according to SMM assessment.
More concentrate supplies entered the domestic market after PT Smelting declared force majeure at its Gresik smelter in Indonesia, and this accounted for the higher TCs. While the smelter was scheduled to end maintenance by the end of November, resumption was delayed by a month.
Triple-digit TCs were heard in the market, in a purchase made by a large Chinese copper smelter from Gresik, market talk suggested on November 29.
SMM expects further upward room in the imported TCs as Gresik remains suspended.