Antofagasta set 2020 copper concentrate TC at $62mt-Shanghai Metals Market

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Antofagasta set 2020 copper concentrate TC at $62mt

Industry News 11:11:05AM Nov 29, 2019 Source:SMM

SHANGHAI, Nov 29 (SMM) – Chilean miner Antofagasta has agreed to supply Chinese and Japanese smelters with copper concentrate in the full 2020 at treatment and refining charges (TC/RCs) of $62/mt and 6.2 cents/lb.

This came in line with the agreement reached between the US-based miner Freeport-McMoRan and Chinese smelters Jiangxi Copper, Tongling Nonferrous and China Copper (formerly Yunnan Copper) last week.

The copper concentrate annual benchmark TC has fallen for a fifth straight year to the lowest in eight years, and marked a drop of 23% from $80.8/mt in 2019.

SMM assessed spot copper concentrate TC at $54.5/mt for August, the lowest since 2012.

SMM copper concentrate index stood at $58.5/mt for the week ended November 22.

Antofagasta set 2020 copper concentrate TC at $62mt

Industry News 11:11:05AM Nov 29, 2019 Source:SMM

SHANGHAI, Nov 29 (SMM) – Chilean miner Antofagasta has agreed to supply Chinese and Japanese smelters with copper concentrate in the full 2020 at treatment and refining charges (TC/RCs) of $62/mt and 6.2 cents/lb.

This came in line with the agreement reached between the US-based miner Freeport-McMoRan and Chinese smelters Jiangxi Copper, Tongling Nonferrous and China Copper (formerly Yunnan Copper) last week.

The copper concentrate annual benchmark TC has fallen for a fifth straight year to the lowest in eight years, and marked a drop of 23% from $80.8/mt in 2019.

SMM assessed spot copper concentrate TC at $54.5/mt for August, the lowest since 2012.

SMM copper concentrate index stood at $58.5/mt for the week ended November 22.