SHANGHAI, Apr 28 (SMM) – Treatment charges for imported copper concentrate stemmed their declines this week, as supplies slightly recovered after Las Bambas mine in Peru resumed transports after indigenous communities ended a more than two-month blockade of a key highway.
SMM assessment showed that TCs for clean, spot imported copper concentrate stood at $65-69/mt as of Friday April 26, unchanged from a week ago. But a tiny few quotes, or even transactions, were heard below $65/mt.
TCs for imported copper concentrate had been on the decline since the start of the year.
In the domestic market, the pricing coefficient of clean copper concentrate with 20% Cu held stable at 87-88% on a price-to-factory basis.
Concerns about tighter supplies, however, still linger across the market, with the smooth commissioning of new smelting capacity in China, and the government’s stricter grips over imports of copper scrap.
Some mines overseas offered TCs of below $60/mt for forward deliveries, and this reinforced the forecasts for tighter supplies.