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Home / Metal News / Slow trades bolster offers of blister copper RCs

Slow trades bolster offers of blister copper RCs

Apr 11, 2019 10:31

Source:SMM

Gains may not extend as sellers expect demand to pick up after Apr maintenance across smelters

SHANGHAI, Apr 11 (SMM) – Maintenance at copper smelters slowed trades of blister copper in China's spot market in the month to April 10, and this prompted sellers to hike offers of blister copper refining charges (RCs).

Cash flow issues reduced purchases from copper smelters in Shandong province, and this also weighed on overall trades.

As of Wednesday April 10, RCs for imported blister copper were mostly offered at $175-185/mt cif, and RCs for domestic materials at 1,500-1,600 yuan/mt, including freight charges. Both charges stood higher from a month earlier.

However, gains may not linger in the longer term as sellers expect demand to pick up after April maintenance across smelters.

Market commentary

Blister copper

Refining charges (RCs)

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Benchmark RC for imported copper anode was set at $145/mt cif in 2021 long-term contracts

Jiangxi Copper and Chambishi, a Zambian blister copper producer under China Nonferrous Metal Mining Group, set the benchmark refining charge (RC) for imported copper anode at $145/mt cif, in their 2021 long-term contracts, rising significantly from the $128/mt in 2020, which indicates market expectations of ample blister copper supply in the future.

Jan 13, 2021 16:44

Industry

Benchmark RC for imported copper anode was set at $145/mt cif in 2021 long-term contracts

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SMM Comments

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Nov 30, 2020 10:15

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Nov 26, 2020 09:39

SMM Comments

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SMM Comments

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Slow trades bolster offers of blister copper RCs

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