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Home / Metal News / Higher demand for blister copper lowers RCs

Higher demand for blister copper lowers RCs

Apr 23, 2019 18:52

Source:SMM

Tight supply of copper scrap bolstered downstream demand for blister copper

SHANGHAI, Apr 23 (SMM) – Tight supply of copper scrap bolstered downstream demand for blister copper. This, together with a lower supply of blister copper amid maintenance at smelters, drove refineries to lower offers of refining charges (RCs) for blister copper, an SMM survey found on Tuesday April 23.

As of April 23, RCs for imported blister copper were mostly offered at $165-175/mt cif, and RCs for domestic materials at 1,450-1,550 yuan/mt. These compared with offers of $175-185/mt cif, and 1,500-1,600 yuan/mt, respectively, on April 10.

Market commentary

Blister copper

Refining charges (RCs)

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Shanghai base metals traded mixed on Friday morning as traders monitored the European Central Bank's latest meeting and the beginning of Joe Biden's presidency. Meanwhile, their counterparts on the LME also set for a mixed start.

Jan 22, 2021 10:00

SMM Comments

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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

SMM Morning Comments (Jan 11): Shanghai base metals fell across the board as investors awaited the release of Chinese inflation data for December

Nonferrous metals on both SHFE and LME declined across the board on Monday morning. Developments on the coronavirus front will likely continue to be monitored by investors and could weigh on sentiment.

Jan 11, 2021 10:00

SMM Comments

SMM Morning Comments (Jan 11): Shanghai base metals fell across the board as investors awaited the release of Chinese inflation data for December

SMM Morning Comments (Jan 5): Shanghai base metals were mostly higher following overnight Wall Street plunge

Nonferrous metals on the SHFE were mostly higher on Tuesday morning, and their counterparts on the LME rose across the board, following an overnight drop on Wall Street as fears surrounding the coronavirus pandemic lingered.

Jan 5, 2021 10:00

SMM Comments

SMM Morning Comments (Jan 5): Shanghai base metals were mostly higher following overnight Wall Street plunge

RCs for blister copper CIF rose further amid value-added tax on gold

Mainstream refining charges (RCs) of domestic blister copper stood at 1,400-1,550 yuan/mt in November, delivery to factory, an average increase of 25 yuan/mt amid positive demand. RCs of imported blister copper stood at $150-165/mt, up $15/mt on average. RCs for blister copper cif rose further as China Customs has levied value-added tax on gold in imported plate-shaped copper anode since October which dampened interest in such products greatly, and blister copper inventories at domestic smelters were abundant.

Dec 3, 2020 10:52

Analysis

RCs for blister copper CIF rose further amid value-added tax on gold

SMM Morning Comments (Nov 30): Shanghai base metals increased across the board China’s manufacturing activities continued to expand in November

Shanghai base metals and their counterparts on the LME all cruised higher on Monday morning, holding onto their last Friday gains.

Nov 30, 2020 10:15

SMM Comments

SMM Morning Comments (Nov 30): Shanghai base metals increased across the board China’s manufacturing activities continued to expand in November

SMM Morning Comments (Nov 26): Shanghai base metals were mostly lower as investors reacted to Fed meeting minutes

Shanghai base metals mostly declined on Thursday morning, as investors reacted to minutes released overnight from the US Federal Reserve's November meeting. Meanwhile, their counterparts on the LME were mostly higher on the board.

Nov 26, 2020 09:39

SMM Comments

SMM Morning Comments (Nov 26): Shanghai base metals were mostly lower as investors reacted to Fed meeting minutes

SMM Morning Comments (Nov 20): Shanghai base metals were mostly higher and the LME complex also rose for the most part

Nonferrous metals on the SHFE were mostly higher on Friday morning, and their counterparts on the LME also rose for the most part.

Nov 20, 2020 09:25

SMM Comments

SMM Morning Comments (Nov 20): Shanghai base metals were mostly higher and the LME complex also rose for the most part

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SHFE nonferrous metals were mostly higher on Monday November 16 on the signing of the Regional Comprehensive Economic Partnership (RECP) over the weekend and upbeat Chinese economic data released today.

Nov 16, 2020 18:48

SMM Comments

SMM Evening Comments (Nov 16): Shanghai nonferrous metals rose broadly on the signing of RECP and positive Chinese economic data

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Shanghai base metals traded mixed on Thursday morning following an overnight bounce for tech stocks on Wall Street as a recent rotation into cyclicals paused. Meanwhile, their counterparts on the LME also set for a mixed start.

Nov 12, 2020 09:28

SMM Comments

SMM Morning Comments (Nov 12): Shanghai base metals performance mixed as the pandemic situation remains severe

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Higher demand for blister copper lowers RCs

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CLNB 2025 (10th) China International New Energy Industry Expo