[SMM Analysis] CSPT fourth quarter copper concentrate floor price announced! Up 20% from the previous month

Published: Oct 17, 2019 15:50

Save

It is reported that the CSPT team held the latest fourth-quarter Floor price price meeting in Shanghai this morning and finalized the fourth-quarter TC floor price at $66 / ton, up about $11 / ton or 20% from Q3 in 2019.

SMM10, March 17: it is reported that the CSPT team held the latest fourth quarter Floor price price meeting in Shanghai this morning, and finalized the fourth quarter TC floor price at 66 US dollars / ton, an increase of about 11 US dollars / ton compared with 2019 Q3, an increase of 20%.

At the beginning of the year, spot TC prices fell all the way down. However, as the increase in Grasberg copper quota hit the spot market and the supply of concentrate increased, the spot TC price of copper concentrate ended its downward trend so far this year in September.

According to the latest data from SMM on October 11, the spot clean copper concentrate TC quoted US $54-60 / ton, and the transaction center of gravity returned to US $57 / ton. However, at present, overseas mines and smelters are also frequent, buyers and sellers are in a state of game, spot TC prices will remain deadlocked at the current level in the short term.

"Click to sign up for a thousand people event in China's non-ferrous metals industry.

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

Copper TC

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

35 mins ago

Copper Prices Remain Low, Secondary Copper Rod Enterprises Purchase Actively [SMM Secondary Copper Daily Review]

35 mins ago

48 mins ago

National copper social inventory buildup to 90,300 mt [SMM weekly data]

48 mins ago

1 hour ago

Imported and domestic copper both arrive, Shanghai spot copper premiums continue to fall under pressure [SMM Shanghai spot copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, the SHFE copper 2609 contract will enter its last trading day. During the day, some suppliers have already attempted to quote against the October contract, offering standard-quality copper at a premium of about 700 yuan/mt. As of September 14, SMM social inventory of copper cathode in major domestic regions stood at 90,300 mt, up 5,200 mt WoW from Monday and up 2,800 mt from last Thursday, but down 63,900 mt YoY. In Shanghai, copper prices pulled back notably last Friday. Although downstream buyers actively fixed prices, cargo pick-up was not fully realized. Combined with small arrivals of imported and domestic cargoes, inventory saw some buildup. In Jiangsu, consumption improved on the copper price correction, leading to slight destocking. Tomorrow, suppliers are expected to quote high premiums against the October contract. However, since SMM consistently quotes against the front-month contract, after adjusting for the price spread between futures contracts, quotes are expected to show a slight discount, which will be corrected on the following day.

1 hour ago