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.