Jiangxi Copper takes lead in 2019 TC/RC benchmark negotiations, agrees deal with Antofagasta at $80.80/t

摘要

Jiangxi Copper and Antofagasta agreed terms on 2019 copper concentrates treatment and refining charges (TC/RCs) at $80.80 per tonne/8.08 cents per lb on Thursday November 15, sources from both companies told Fastmarkets.The deal is in line with market expectations and is 1.8% lower than the benchmark of $82.25/8.225 cents agreed in 2018 between Freeport-McMoRan and Tongling Nonferrous. TC/RCs are paid by miners to smelters to cover the cost of turning copper concentrate into refined metal.