SMM Analysis: The spot price of copper concentrate continues to decline, and the 2024 long-term contract signing pattern may see changes
According to SMM research, there are some traders and smelters attempting to change the settlement of long-term contracts from the previous "Benchmark minus deduction" model to a "monthly index settlement" model. The "monthly index settlement" will be determined by the monthly index prices of domestic institutions and the arithmetic average of external monthly indices. Some traders and smelters are currently in negotiations regarding this new long-term contract settlement model.

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