Help Desk -
9717405332, 9599714297, 9810335381

Spot TC/RCs for China down to USD 74 to USD 85 per tonne

Metal News - Published on Tue, 16 Jan 2018

Image Source: SteelGuru
Platts reported that spot treatment and refining charges for imported concentrates for Chinese smelters dipped to USD 74 to USD 85 per tonne and 7.4-8.5 cents/lb last week, from USD 76 to USD 85 per tonne and 7.6-8.5 cents/lb in the preceding week, amid tighter concentrates supply.

Industry sources in China said that in November last year, the TC/RC fees were more at USD 85 to USD 93 per tonne and 8.5-9.3 cents/lb.

Jiangxi Copper Corp said in its weekly copper report that Chinese smelters were more actively buying concentrates last week, with deals done at USD 74 per tonne and USD 78 per tonne respectively, last week, less than the China Smelters Purchase Team's floor fee of $87/mt and 8.7 cents/lb set for the first quarter of 2018, the producer said.

Tongling Nonferrous Metals Group said in its monthly report that some Chinese smelters lacked concentrate stocks, so had to buy imported ones. It said in its 2018 copper sector report that strikes at overseas mines and the resulting fall in mined copper output last year cut global supply.

S&P Global Platts metals market reports feature global news, analysis, daily pricing, and commentary on major metals including aluminum, copper, lead, tin, zinc and precious metals, as well as ferroalloys and steel.

China Construction bank in its Monday commodity report said that spot TC/RCs were expected to keep falling in the coming weeks, citing tight concentrates supply.

CCB said though imports of copper concentrates by China in December was higher than the average monthly volume of imports last year, concentrates supply has been tighter and so the December imports were less year on year.

China imported 1.65 million tonne copper ore and concentrates in December, down 1.2% year on year, with imports of ores and concentrates in January-December at 17.35 million mt, up 2.3% year on year, data from the General Administration of Customs showed.

China is forecast to add new national mined copper supply of 134,000 mt/year and 233,500 tonne per year in 2018 and 2019, respectively, mainly in the provinces of Fujian, Jiangxi, Anhui, Yunnan, Qinghai, Henan and Sichuan, data from state-owned metals consultancy Beijing Antaike showed.

The data showed that China's mined copper demand this year is forecast at 6.15 million, up 6% from an estimated 5.8 million mt in 2017.

Source :

Posted By : Rabi Wangkhem on Tue, 16 Jan 2018
Related News from Metal segment