SHANGHAI, May 18 (SMM) – SMM assessed imported clean copper concentrate treatment charges (TCs) at $74-81/mt on Friday May 18, up $3/mt from a week ago.
Imported copper concentrate supply to Chinese domestic smelters continued to increase as Vedanta's copper smelter at Tuticorin in India remained shut as of May 18, SMM learned. The smelter started a 15-day maintenance from March 27. It is unclear when it will resume operations.
However, some market participants cautioned against a potential drop in TCs due to rising demand from newly-built smelters in the third quarter of this year.
Labour negotiations at BHP’s Escondida mine in Chile in June may also pose uncertainties. The company said last month that early contract talks with the union ended without an agreement.
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