Copper concentrate benchmark structure at risk in …
TC/RCs are discounts paid to smelters for turning copper concentrate into refined metal. Typically, the fees drop amid tight supply and increase in a well-supplied market. Most miners and smelters tend to follow an …
Copper TC/RCs benchmark next year seen at 15-year low
BEIJING/ HANOI/LONDON: Copper concentrate processing fees are expected to be set at a 15-year-low in 2025 because of...
Looking for Accurate Forecasting of Copper TC/RC …
Hence, the aim of this paper is to provide an effective tool to forecast copper TC/RC annual benchmark levels. With the annual benchmark data from 2004 to 2017 agreed upon during the LME...
What are TC/RCs (Treatment and Refining …
TC/RCs provide part of the revenue of a smelter. E.g. the table below gives an indicative calculation for revenue per tonne of copper for various TC/RC levels and levels of concentration:
Copper treatment charges for Chinese market seen rising in …
Global miners and Chinese smelters could set higher annual treatment and refining charges (TC/RCs) in 2023 as rising copper concentrate supply is expected to outpace smelting capacity growth.
Copper concentrates market outlook 2025: Bumpy road ahead
Fastmarkets' calculation of the copper concentrates TC/RC implied smelters purchase, cif Asia Pacific at $8.48 per tonne/0.848 cents per lb on December 13, down from $9.28 per tonne/0.928 cents per lb a week earlier.
The Copper Market, Treatment and Refining Charges
The current copper price of above 9 000 USD/t is seen as encouraging miners to boost output. Copper mine production is forecasted to rise by 2..4% in 2021, and by further 7% in 2022 boosted by recovering supply at existing mines, expansions and new capacity in Indonesia (Grasberg Block Cave mine ramp-up), Peru (the startup of Mina Justa and the expansion of …
Spot copper concentrate TC/RC fall 20 pct as supply down
Spot treatment and refining charges (TC/RC) this week were offered at $100-$105 per tonne and 10-10.5 cents per pound for standard copper concentrates for delivery to China, they said.
Copper Processing Costs Set To Plummet By 2025
Treatment and Refining Charges (TC/RCs) for copper, essential for processing, are predicted to decrease sharply, putting pressure on profit margins industry-wide. Key negotiations in Shanghai will set the 2025 TC/RC benchmark, with current expectations spanning from the high teens to $50 per metric ton—significantly lower than this year's $80 ...
PRICING NOTICE: Specification of Metal Bulletin copper concentrates TC
The Copper Concentrates Index is published every 15th and last day of each month (or the closest working day that precedes that date if it falls on a weekend or a UK public holiday). Metal Bulletin has no financial interest in the level or direction of the index. Sign up here for copper TC/RC price history.
How low can spot TC RCs go
The treatment charge (TC) and refining charge (RC) are a discount to the amount paid to the sellers for a copper concentrate, usually expressed jointly as a TC/RC. CRU publishes two spot TC/RC indices, which represent the averages of TC/RCs agreed over the previous month, one for the miner to trader market, and another for the trader to smelter ...
Copper smelters feel pain as treatment and …
Fastmarkets calculated the copper concentrates TC index, cif Asia Pacific and the copper concentrates RC index, cif Asia Pacific at $22.70 per tonne and 2.70 cents per lb respectively in the week ending January 26, both down …
Looking for Accurate Forecasting of Copper TC/RC …
Hence, the aim of this paper is to provide an efective tool to forecast copper TC/RC annual benchmark levels. With the annual benchmark data from 2004 to 2017 agreed upon during the …
ON-SITE PROCESSING VS. SALE OF COPPER …
TC/RC/PP (US ¢/lb) Copper Prices (US ¢/lb) Cu Figure 4 For the purposes of the financial analysis in the succeeding section, longterm prediction for TC/RC/PP is required. Using the above historical relationship between TC/RC/PP and copper price it is assumed that the TC/RC/PP is 23% of the copper price for the longterm average.
Estimating copper concentrates benchmark prices under …
Copper concentrates daily prices are modeled using Matlab software employing historical daily official spot and futures data from the two main commodity markets (LME - copper; COMEX - gold and silver) obtained from DataStream as well as historical copper TC/RC benchmark levels from 2004 to 2018 to calibrate the model.
Looking for Accurate Forecasting of Copper TC/RC
Thus, in accordance with our second premise on benchmark TC/RC behaviour, levels would move in line with copper concentrate supply and demand as well as the smelters' and refineries' available capacity to transform concentrates into metal copper. Hence, a relationship between TC/RC levels and copper supply and demand is known to exist and ...
Copper concentrate TCs still negative: how? And what does …
Alongside this, the London Metal Exchange three-month copper price hit an all-time high of $11,104.50 per tonne on May 20. Fastmarkets heard that the tight concentrate market was among the reasons for this. The big movements in both the TC/RCs and the LME copper price have led to an increased market focus on copper concentrate treatment and refining charges.
TRADE REVIEW: China's copper concs TC/RCs to be …
Smelters' purchases fell in Q2 on low TC/RCs, anodes usage Traders expect limited rebound in Q4 on new smelting capacity Copper cathode import premium to firm slightly in next quarter This report is p
PRICING NOTICE: Correction to copper concentrate TC/RC …
Japan's government has announced plans to make carbon trading, a system of carbon dioxide (CO2) emissions quotas, mandatory for high-emission firms from the 2026 fiscal year, which could have far-reaching consequences for Asian steelmakers, sources told Fastmarkets in the week to Friday November 29.
China Cu conc: TC/RCs extend rises on muted demand
Some Chinese copper smelters said during the 2024 London Metal Exchange (LME) Week that they might cut or suspend production if the benchmark TC/RC for 2025 falls sharply, according to market participants. The benchmark TC/RC for …
Bumpy road ahead for copper concentrates market in 2025
Fastmarkets' calculation of its weekly copper concentrate TC/RC index, which tracks the midpoint between smelter and trader buying levels, fell into negative territory for the first time on April 26 since market track record from June 2013. Also, market uncertainties and risks ...
Copper concentrate price data and news
Copper's essential role in the energy transition is creating a volatile and dynamic market. A series of production problems has hit mine output around the world, leaving smelters scrambling for copper concentrates. The strong demand for …
Copper TC/RCs benchmark next year seen at 15-year low, …
A Reuters poll of industry sources including smelters, traders, miners, analysts and consultants showed a wide range of expectation for the TC/RC benchmark, from the high teens to $50 a metric ton.
Direct Effect of TC on the LME Copper Prices
It is found that a 10% increase in TC of copper decreases in copper return by 1.8%. Subsequently, the vector autoregression (VAR) model is introduced to consider the impact of TC to copper prices ...
PRICING NOTICE: Fastmarkets amends copper concentrates TC/RC …
PRICING NOTICE: Fastmarkets amends copper concentrates TC/RC index specifications Fastmarkets is revising the specifications for its copper concentrates treatment and refining charge (TC/RC) Asia Pacific index after a thorough consultation with a wide range of market participants. ... The updated specifications used in the calculation of the ...
2022 copper TC/RC benchmark set at $65/6.5¢
The 2022 copper TC/RC benchmark has reportedly been settled at $65/6.5¢ between Freeport McMoRan and Chinese smelters on 16 December. We understand that Jiangxi Copper first agreed at this level with Freeport, with other Chinese smelters following suit (China Copper, Jinchuan and Tongling Nonferrous).
Copper: explaining the TC/RC slide
Our long-term TC/RC terms are US$87/t-8.7¢/lb (real), which becomes active in our forecast in 2021. Copper's supply-demand outlook We forecast a 2.4%yoy lift in global copper refined supply for 2015 to 22.8Mt, which includes a 5.3%yoy expansion in …
FAQ: Changes to Fastmarkets' copper concentrate TC/RC …
Fastmarkets' copper team has compiled the answers to frequently asked questions (FAQs) from the industry on the change in the benchmark copper concentrate TC/RC index …
China's Cu conc TC/RCs hit over 15-year low: Correction
The tender, comprising two cargoes of copper concentrate, was settled with two entities. It was concluded with a Chinese smelter at TC/RCs of $12/t and 1.20¢/lb, and transacted with a trading house at TC/RCs of $3/t and 0.30¢/lb, five sources told Argus. Such low TC/RC levels were last seen in 2007 or 2008, according to sources.