SHANGHAI, Jul. 31 (SMM) – Spot TCs for imported copper concentrate in Chinese market may edge lower due to limited supply, SMM research team predicts.
Recent reports on suspension and production cuts of copper operations kindled concern over copper ore supply.
“Small and mid-sized smelters in China that signed fewer term contracts this year are feeling the need to replenish stocks lately, that plus output cuts or disruptions reported from copper projects will pressure spot TCs for the material,” SMM analyst says.
That said, a sharp decline is not expected as demand from large Chinese smelters showed not significantly improvement.
Spot TCs for clean copper concentrate remained at $80-85 per tonne this week and those for blended concentrate were $115-120 per tonne.
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