China copper smelters seek higher spot, term TC/RCs

Spot treatment and refining charges (TC/RCs) paid to Chinese copper smelters have jumped by 26-48 percent in the past month and by two-thirds from October on increased supply from overseas.

Copper smelters in China, the world's top consumer of the metal, had received TC/RCs of $88.5 per tonne and 8.85 U.S. cents per pound for turning spot imported concentrates into copper, up from $60-$70 and 6-7 cents a month earlier and about $50 in October, traders and smelter officials said.

Rising spot TC/RCs were encouraging Chinese smelters to require higher yearly fees for 2009.

Smelters were seeking charges of $82-$83 and 8.2-8.3 cents with price participations, or combined charges of $85-$90 and 8.5-9.0 cents, nearly double 2008's $47.2 and 4.72 cents, a smelter official said.

The bids have been given to Chile's Escondida mine's majority owner, global miner BHP Billiton (BLT.L: Quote, Profile, Research)(BHP.AX: Quote, Profile, Research), which have offered charges of $52.5 and 5.25 cents without a price participation, the smelter official said.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.