SHANGHAI, Mar 28 (SMM) – China’s top copper smelters set their floor treatment charges (TCs) for the second quarter of 2019 at $73/mt, down $19/mt from the previous quarter, SMM learned on Thursday March 28.
The floor charges, the minimum miners pay smelters to process their copper concentrate into refined metal, were agreed at a meeting of the China Smelters Purchase Team (CSPT) this week. China is the world’s top copper consumer.
For spot cargoes, TCs traded at $68-73/mt in the week ended March 22, down $2/mt from the previous week, SMM assessments showed.
Spot copper concentrate TCs have been on the decline since the Lunar New Year holiday. This grew market concerns about tighter copper concentrate supplies.