Connect with us

Business

Copper smelters in China cut treatment floor in third quarter: sources

 


BEIJING (Reuters) – China’s top copper smelters reduced their soil treatment and refining (TC / RC) costs for copper concentrate in the third quarter by 3.6% from a year ago, according to two people familiar with the matter, amid concerns over tight supplies.

The China Smelters Purchase Team (CSPT) set a treatment floor price of $ 53 per tonne and a refining floor price of 5.3 cents per pound during a video conference, said the people, who declined to be identified because the information is not public.

That compared to $ 55 per tonne and 5.5 cents per pound for the third quarter of 2019. Foundries did not agree to a floor for the second quarter of this year.

Miners pay TC / RC to smelters to transform copper concentrate into refined metal, and tariffs play an important role in determining profitability on both sides.

The 12 state-sponsored CSPT members in China, the world’s largest consumer of copper, are expected to meet floor fees in cash processing transactions.

The latest quarterly floor is the lowest recorded by Reuters since the start of 2016. The one-time processing fee in China, as estimated by Asian Metal, is currently $ 54.50 per tonne, the lowest since September 2012.

TC / RC increases when the supply of concentrate is more abundant and decreases when it tightens, because smelters have less bargaining power.

Friday’s meeting took place against a backdrop of fears that the main copper miner in Chile would be disrupted due to coronavirus containment measures.

It also happened a day after the birth of two PTSC members, Jiangxi Copper Co and Tongling Nonferrous, who had signed the first supply agreements with Antofagasta of Chile for the first half of 2021.

A source said Thursday that the processing fees under these agreements were $ 60.8, although the tonnage specified in the contracts is unclear.

TC’s annual benchmark for 2020, mentioned in long-term contracts, is $ 62 per tonne.

Report by Tom Daly; Editing by Richard Pullin & Shri Navaratnam

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]