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Home / Metal News / Lower demand at year end buoys blister copper RCs

Lower demand at year end buoys blister copper RCs

Dec 3, 2018 16:24

Source:SMM

Imported blister copper RCs were mostly offered at $170-190/mt cif as of Monday

SHANGHAI, Dec 3 (SMM) – As of Monday December 3, refining charges (RCs) for both domestic and imported blister copper offered higher than in mid-November. This came after a lower 2019 copper concentrate TC, set by Jiangxi Copper and Antofagasta, lowered RCs in mid-November.

Year-end cash flow issues deterred smelters from purchasing blister copper. This, together with capacity cut at a smelter in Shandong province, lowered overall demand and buoyed RCs.

Imported blister copper RCs were mostly offered at $170-190/mt cif as of Monday, compared with the average $160-170/mt in mid-November. Charges stood at 1,500-1,700 yuan/mt for domestic cargoes delivered to plants. This compared with RCs of 1,400-1,600 yuan/mt in the middle of November.

Monday saw limited transactions, SMM learned.

Market commentary

Blister copper

Refining charges (RCs)

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Lower demand at year end buoys blister copper RCs

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