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PrintEuropean copper producer/recycler Aurubis said Thursday that there was evidence that copper treatment and refinement charges have risen further to around 95/mt and 9.5 cents/lb.
"On the spot market for copper concentrates there were contracts between $110/mt and 11 cents/lb and $120/mt and 12 cents/lb, for standard quality concentrate. In initial discussions between international smelters and mines about annual contracts, TC/RCs of $95/mt and 9.5 cents/lb are still being discussed," Aurubis said.
TC/RCs have recently been reported around $80 and 8.5 cents/lb.
TC/RCs are the fees charged by smelters to miners to convert raw material into metal. When concentrate demand is elevated prices rise and vice versa.
There is a lot of talk in the market of a surplus of copper going into 2014.
"The copper scrap supply is still unsatisfactory. Seasonal effects have only led to marginal improvements so far," Aurubis added.
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