Japanese copper smelters and Escondida mine of Chile agreed in lowering the treatment and refining charge (TC/RC) by about 30% for July 2009-June 2010 ore shipment compared with 2009-2010 shipment. TC seems to be set at around US$ 52 per tonne and RC at around US 5.2 cents per pound. TC and RC total approximately US 13 cents per pound.
Escondida mine suspends ore concentrating facilities in Laguna Seca plant for 45 days in order to replace SAG mill’s motor. Escondida had offered Japanese copper smelters to set TC below US$ 50 per tonne for July09-June10 shipment considering less ore output. Japanese smelters requested to raise TC when the smelters continued output reductions under stagnant economy and Escondida’s offer price was lower than cash cost. To reflect the smelters’ intentions, Escondida slightly raised TC. Compared with the previous mid-year price negotiation for July08-June09 ore shipment, Japanese smelters can gain 15% better margin. Smelters pay ore charge to ore suppliers, which is calculated by copper price at London Metal Exchange minus TC/RC. Based on current copper price at US 240 cents per pound, ore charge is calculated ay around US 227 cents.M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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