– Operating rates at Chinese copper smelters are likely to fall as the floor TC/RC for the second quarter was lowered by more than 20% to $73/mt and 7.3 cents/lb.

“Demand is poor now, with no signs of recovery, and lower treatment and refining charges will affect production, especially high-cost capacities,” said SHMET’s copper analyst.

At present, spot copper TC in Chinese domestic market stand lower to around $73/mt, according to SHMET data 有色金属展-铜材展-2019年广州国际有色金属工业（铜业）展览会 -2019 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition -Non-Ferrous Metal exhibition, 2019 Non-Ferrous Metal exhibition, Non-Ferrous Metal expo, 2019 Non-Ferrous Metal expo, Copper exhibition, Copper expo, 2019 Copper exhibition, 2019 Copper expo, China Copper exhibition, China Copper expo .