Platts 25% Cu Copper Concentrate, CIF China: Calcine tender heard at minus $1-2/mt, May-June/Q3/Q4 loading, producer to trader, M+4, 30kt, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at below $5/mt, H2 2024 loading, producer to smelter, M+1 or M+4 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs bid heard at below $5/mt, H2 2024 loading, producer to smelter, M+1 or M+4 at seller's option, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $1-3/mt, H2 2024 loading, producer to smelter, M+1 or M+4 at seller's option, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at negative $/mt, 2025 loading, producer to trader, M+1 or M+4 at buyer's option, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-5/mt, June-July loading, producer to trader, M+4, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs traded heard at $-5/mt, June loading, producer to trader, M+4, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $5/mt, June-July loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: high gold copper concs bid heard at $10/mt, June loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs traded heard at $5/mt, June loading, producer to smelter, M+1 or M+4 at seller's option, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs indicative offer heard at $1-2/mt, July loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Blended copper concs indicative offer heard at $4-5/mt, June-July loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Blended copper concs bid heard at $10/mt, June-July loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at -$5/mt, June-July loading, producer to trader, M+4, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Blended copper concs tradable heard at $6-7/mt, June-July loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Robinson heard done heard at -$10s/mt, June-July loading, producer to trader, M+4, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Robinson tender heard on May 16, June-July loading, producer to trader, M+4, 10kt, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $2-3/mt, July loading, trader to smelter, M+1 or M+5 at seller's option, according to market source
Platts 25% Cu Copper Concentrate, CIF China: High gold copper concs traded heard at $6-7/mt, June-July loading, trader to smelter, M+1 or M+5 at seller's option, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $2-3/mt, July loading, trader to smelter, M+1 or M+4 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs offer heard at $minus 1-2/mt, June loading, trader to smelter, M+1 or M+4 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs traded heard at $5-6/mt, Q3 loading, trader to smelter, M+1 or M+4 at seller's option, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs traded heard at $5/mt, June loading, trader to smelter, M+1 or M+5 at seller's option, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Gold concs offer heard at $70/mt, July loading, trader to smelter, M+1 or M+4 at seller's option, High As content, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs offer heard at $2-3/mt, July loading, trader to smelter, M+1 or M+4 at seller's option, container, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs indicative offer heard at $3/mt, July loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Blended copper concs indicative offer heard at $5/mt, July loading, trader to smelter, M+1 or M+5 at seller's option, As around 0.5%, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at minus $10s/mt, July loading, producer to trader, M+1 or M+4 at buyer's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $4/mt, July loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Blended copper concs offer heard at $5/mt, July loading, trader to smelter, M+1 or M+5 at seller's option, As around 0.5%, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Blended copper concs indicative bid heard at above $5/mt, July loading, trader to smelter, M+1 or M+5 at seller's option, low gold & low silver content, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: non-standard clean tradable heard at $5-6/mt, July loading, trader to smelter, M+1 or M+4 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $0-2/mt, July loading, trader to smelter, M+1 or M+4 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Blended/Clean copper concs tradable heard at $minus 1-2/mt, July loading, trader to smelter, M+1 or M+4 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $3-4/mt, July loading, trader to smelter, M+1 or M+4 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs offer heard at $0/mt, Q3 loading, trader to smelter, M+1 or M+4 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $2-3/mt, Q3 loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs offer heard at $2/mt, Q3 loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $minus 5-10/mt, June-July loading, producer to trader, M+3, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $2-5/mt, June-July loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $5/mt, June-July loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs offer heard at $5/mt, June-July loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs offer heard at $2-3/mt, June loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at minus $18-19/mt, 2024 H2 loading, producer to trader, M+1 or M+4 at buyer's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $0-2/mt, July loading, producer to smelter, M+1 or M+4 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $1-3/mt, July-August loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $3/mt, June loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $0-2/mt, July loading, producer to smelter, M+4, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-5/mt, July loading, producer to trader, M+4, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $3/mt, July loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts assessed CIF China clean copper concentrate treatment and refining charges at minus 60 cents/mt and minus 0.06 cent/lb, respectively, May 17, up by 50 cents/mt and 0.05 cent/lb, respectively, from May 16.
Platts assessed producer-to-trader copper concentrate TC/RC differentials at minus $7.70/mt and minus 0.77 cent/lb, respectively, May 17, down by 30 cents/mt and 0.03 cent/lb, respectively, from May 16.
Tradable values were heard at $5/mt for July-loading clean copper concs, trader to smelter, M+1 or M+5 pricing at the seller's option, which is normalized to minus 30 cents/mt by considering a $32.99/mt contango between October and December on an M+3 pricing basis.
Tradable values were also heard at $2-$3/mt for July-loading shipment on M+1 or M+4 pricing at the seller's option, which is normalized to minus 40 cents-$1.40/mt by considering a $21/mt contango between October and November on an M+3 pricing basis.
More availability for prompt loading shipments helped keep the spot market stable, as producers were selling more June shipments to both traders and smelters.
“Copper mine production is better than expected,” a supplier said, explaining about the recent increase in spot sales tonnages.
A June-July Robinson was heard concluded at negative $10s/mt from producer to trader on an M+4 pricing basis through a tender, 95% gold payable for around 5 g gold content.
A June-loading Buenavista was heard done at around negative $30/mt from producer to trader through a tender, with side term applied on gold payable.
Calcine was heard done at negative $1-$2/mt from producer to trader for May-June, third-quarter and Q4 loading, 30,000 mt in total, M+4 pricing.
June-loading clean copper concs traded at $5/mt between producer and smelter on an M+1 or M+4 pricing basis, at the seller’s option.
Another June-loading standard clean traded at negative $5/mt between producer and trader on an M+4 pricing basis.
“Traders were still very aggressive to buy, but smelters have calmed down,” a source said.
A seller said less active bids were heard from smelters, and some active buyers paid more attention to P&L.
A few bids were heard at $10/mt for June-July loading copper concs, trader to smelter, M+1 or M+5 pricing at the seller’s option.
“But we obviously cannot sell at this level,” a seller said.
Another trader said it was still easy to sell, but there were more parcels around so it was more difficult to achieve their desired price.
However, a bid was also heard at below $5/mt from smelter to producer for second-half loading clean copper concs.
Traders were still betting on a wide contango, and limited production cut could be seen for the second half of the year, which supported aggressive buying.
Although more smelters rely on scrap and secondary materials for production needs, the total volume that smelters could use is limited.
“Especially for smelters with new technology, secondary raw materials they can use [at most] is 10%compared with copper concs,” a source said.
Platts is part of S&P Global Commodity Insights.