Japanese largest copper smelter, Pan Pacific Copper (PPC) requires 72% better copper smelting revenue for copper ore purchase to offshore miners for 2011-12 shipment. The firm tries to realize US$ 80 per tonne of treatment charge and 8 US cents per pound of refining charge totaling around US$ 453 per tonne of revenue when the ore supply gets loose due to lower purchase from China and India.
Pan Pacific Copper and other Japanese smelters are in negotiation with offshore miners including BHP Billiton and Freeport-McMoRan Copper & Gold for ore purchase condition for 2011-12 shipment. JX Nippon Mining & Metals’ president Masanori Okada said on Thursday the subsidiary, Pan Pacific Copper is in negotiation with offshore miners to realize US$ 80 per tonne of treatment charge and 8 US cents per pound of refining charge. The smelter seeks the wider margin under higher spot market at near US$ 90 per tonne of treatment charge and near 9 US cents per pound of refining charge. Japanese smelters’ revenue is around US$ 263 per tonne including US$ 46.5 per tonne of treatment charge and 4.65 US cents per pound of refining charge for 2010-11 shipment. The revenue is much lower than estimated US$ 600 per tonne of smelting cost excluding revenue from byproducts. Chinese copper ore purchase volume decreases when Chinese rolled copper makers and other users reduce the consumption under limited electricity supply. Indian copper ore purchase volume also decreases due to production cut by major smelters under environmental issues. Japanese smelters try to set the higher ore purchase condition when Indian and Chinese buyers show less appetite for ore recently. Japanese target is 5-year high after US$ 95 per tonne of treatment charge and 9.5 US cents per pound of refining charge for 2006-07 shipment.Japan Steel Scrap Composite Prices (Sangyo Press)
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