China's 2019 term TC/RCs for imported copper drop on slow growth expectations

Chinese analysts attributed the drop in fees to the anticipated slow down in the world's mined copper output growth, amid the building of new smelters in China.

Jiangxi Copper and Chilean Antofagasta inked the term fee for 2019 at $80.80/mt and 8.08 cents/lb, lower than 2018 rates of $82.25/mt and 8.225 cents/lb, Jiangxi Copper said in its weekly report, noting that the 2019 fee is in line with Chinese smelters' target level.

But Jiangxi Copper said the fee for the first quarter of 2019 was above $90/mt, and 9 cents/lb, and that they expect ample supply of near term spot concentrate before the restart of overseas smelters.

Hangzhou-based Chinese brokerage Nanhau Futures said in its copper report that since Q2 this year, spot fees kept rising, due to problems at various smelters in India, Philippines and China.

The brokerage said the world's mined copper supply is still limited, with the globe's 2019 copper concentrate supply seen adding just 500,000 mt. Jiangxi Copper shared similar views, noting that the global mined copper supply was 16.47 million mt in 2018, with 2019 supply growth rate expected at just 2.7% year on year.

News No: 2658
Date: 2018/11/19 - 14:50
News Source: S & P Global Platts

China  Jiangxi Copper  Chilean Antofagasta  Hangzhou 


Leave a Comment:


Brazil: Vale Warns of Another Dam Burst; Iron Ore Prices Cross USD 100

Spot iron ore fines Fe 62% index has picked up to USD 100.4/MT, CNF China as against USD 98/MT, CNF China yesterday. The increase is due to Vale forecast of dam rupture in next week. The prices have hit 5 years high as the prices were last seen in May'14.

China’s Tangshan City Sets a Higher Steel Capacity Cut Target for 2019 after Inspections

SteelMint has heard that the Hebei province’s Tangshan city has set higher iron and steel capacity cuts target for 2019 after the feedback received from the air pollution inspection team recently.

India's KIOCL Concludes 50,000 MT Pellet Export Deal - Sources

Southern India based pellet maker - KIOCL has concluded pellet export deal recently via tender floated. The company had floated export tender offering 50,000 MT pellet consisting of Fe 64% content with less than 2% Al for which the bid due date was 14 May’19.

China: Shagang Steel Cuts Scrap Purchase Price by USD 6 Amid Rising Supply

Eastern China’s largest private ferrous scrap consumer and EAF steelmaker - Shagang Jiangsu Steel group has lowered steel scrap purchase price for all grades by RMB 40/MT (USD 5.8) effective from today (15th May’19).

China: Baosteel Keeps Flat Steel Price Stable for June Deliveries

China’s major steelmaker Baosteel recently announced flat steel prices for June deliveries. The company has rolled over its flat steel prices for second consecutive month.

China: Iron Ore & Pellet Imports Fell 18-Months Low in Apr'19

According to General Administration of Customs, China - the world's largest iron ore consumer and importer, recorded fall of 7% in iron ore imports to 80.77 MnT in Apr'19 against 86.42 MnT in Mar'19
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners