Chinese Smelters Settle 2011 Copper TC/RCs With BHP At $77/Ton -Source
11 Februar 2011 - 5:12AM
Dow Jones News
Chinese smelters have settled 2011 term copper treatment and
refining charges with global miner BHP Billiton Ltd. (BHP) at $77.0
a metric ton and 7.70 cents a pound, a person with direct knowledge
of the situation said Friday.
The increase of 66% in fees from the 2010 benchmark price is set
on "a half-year basis," the person added.
Talks with another major miner, Freeport McMoRan Copper &
Gold Inc. (FCX), are still ongoing, but the miner offered lower
TC/RCs compared with BHP's, albeit on a yearly basis, the person
said.
The annual contract negotiations are conducted by the biggest
global copper-mining companies with Chinese smelters including
Jiangxi Copper Co. (0358.HK) and Tongling Nonferrous Metals Group
Co. (000630.SZ), as well as smelters in Europe and Japan.
-Yue Li contributed to this article; Dow Jones Newswires; (8621)
6120 1200; yue.li@dowjones.com
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