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China Smelters Purchase Team to Cut Copper Output on Lower TC/RCs-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
1/3/2020 - Copper exhibition -non-ferrous metals expo |
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The China Smelters Purchase Team have agreed to set the first quarter treatment charge floor at USD 67 per tonne and the refining charge floor at 6.7 cents a pound at a quarterly meeting. The agreed rates are up 1.5% from USD 66 a tonne and 6.6 cents a pound respectively in the fourth quarter of 2019 but down 27.2% YoY following a big rise in smelting capacity in China and limited mine supply growth this year.
Copper miners pay TC/RCs to smelters to process their copper concentrate into refined metal. Charges go down when the market tightens and rise when ore supply is more abundant. The 12 state-backed members of the CSPT are supposed to adhere to the floor charges in any spot copper concentrate deals.
CSPT groups together China’s ten biggest copper smelters including Southeast China’s Jiangxi Copper, East China’s Tongling Nonferrous Metals Group and Southwest China’s Yunnan Copper Co. Together they host 68% of the country’s total copper capacity and consume 82% of the country’s total copper concentrate imports
有色金属展-铜材展-2020年广州国际有色金属工业（铜业）展览会
-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
-Non-Ferrous Metal exhibition, 2020
Non-Ferrous Metal exhibition, Non-Ferrous Metal expo, 2020 Non-Ferrous Metal
expo, Copper exhibition, Copper expo, 2020 Copper exhibition, 2020 Copper expo,
China Copper exhibition, China Copper expo
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