Chinese Smelters, Antofagasta Set 2026 Copper Concentrate TC/RC Benchmark at $0/0.0¢

Published: Dec 20, 2025 09:23
According to SMM, Chinese smelters and Antofagasta have finalized the copper concentrate TC/RC benchmark for long-term contracts in 2026 at $0/0.0¢. The benchmark for 2025 long-term contracts was set at $21.25/2.125¢.

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 to learn 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
Mining Firm Rebrands to Focus on Copper Strategy
29 mins ago
Mining Firm Rebrands to Focus on Copper Strategy
Read More
Mining Firm Rebrands to Focus on Copper Strategy
Mining Firm Rebrands to Focus on Copper Strategy
Giant Mining is rebranding as Copper One Resources, signaling a strategic pivot toward copper amid rising demand and investor focus.
29 mins ago
Zambia’s Historic Copper Mine Restart Adds New Supply Variable
34 mins ago
Zambia’s Historic Copper Mine Restart Adds New Supply Variable
Read More
Zambia’s Historic Copper Mine Restart Adds New Supply Variable
Zambia’s Historic Copper Mine Restart Adds New Supply Variable
Zambia’s Luanshya copper mine is set to restart after nearly two decades, targeting 100,000 tonnes annually by 2030, highlighting the growing role of dormant asset restarts.
34 mins ago
Teck Resources Warned of Rising Costs, LME Copper Fluctuated and Closed Lower Overnight [SMM Copper Morning Meeting Minutes]
35 mins ago
Teck Resources Warned of Rising Costs, LME Copper Fluctuated and Closed Lower Overnight [SMM Copper Morning Meeting Minutes]
Read More
Teck Resources Warned of Rising Costs, LME Copper Fluctuated and Closed Lower Overnight [SMM Copper Morning Meeting Minutes]
Teck Resources Warned of Rising Costs, LME Copper Fluctuated and Closed Lower Overnight [SMM Copper Morning Meeting Minutes]
SMM Morning Meeting Summary: Overnight, LME copper opened at $13,317/mt, moved sideways after the opening before dipping to a low of $13,168/mt, then the center rose to a high of $13,348/mt, and finally closed at $13,259/mt, down 0.68%, with trading volume at 18,000 lots, a decrease of 809 lots from the previous trading day; open interest stood at 316,000 lots, a decrease of 4,795 lots from the previous trading day, with the overall movement mainly characterized by bulls reducing positions. Overnight, the most-traded SHFE copper 2604 contract opened at 102,670 yuan/mt, fluctuated downward after the opening to a low of 101,780 yuan/mt, then the center rose to a high of 102,880 yuan/mt, and finally closed at 102,550 yuan/mt, down 0.15%, with trading volume at 55,000 lots, a decrease of 51,000 lots from the previous trading day; open interest stood at 186,000 lots, an increase of 1,437 lots from the previous trading day, with the overall movement mainly characterized by bears adding positions.
35 mins ago
According to SMM, Chinese smelters and Antofagasta have finalized the - Shanghai Metals Market (SMM)