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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)

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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Lower demand at year end buoys blister copper RCs

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