SHANGHAI, Aug. 20 (SMM) – China’s copper concentrate imports fell by 18,000 tonnes on the month in July, to 970,000 tonnes, Customs data reveal, as lower spot TCs undermined importing interest.
Spot TCs for clean copper concentrate dropped to an average of $84 per tonne in July, and even below $80 per tonne for some deals. SMM understood that smelters that had ordered more term contracts this year refrained from spot purchases.
Heading into August, reports about production cuts or disruptions circulated, and some smelters told SMM that it has become more difficult for them to source spot concentrate. That, coupled with persistently low spot TCs, means copper concentrate imports are unlikely to increase this month, probably holding steady from July.
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