Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $5-$9/mt, 2025 loading, producer to trader, M+3, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $minus 5-6/mt, June loading, producer to trader, M+3, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $10/mt, 2025 loading, producer to smelter, M+4, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $1-2/mt, June loading, trader to smelter, M+1 or M+4 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Gibraltar tender heard at $10s/mt, 2026 loading, producer to trader, M+1 or M+4 at buyer's option, 80kt, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Gibraltar tender heard at $minus single digit/mt, 2025 loading, producer to trader, M+1 or M+4 at buyer's option, 80kt, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at -$1/mt, June loading, producer to smelter, M+3, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $3-4/mt, June 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 indicative offer heard at $3/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 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 tradable heard at minus $15/mt, June-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 $1-2/mt, June-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 $0-1/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: non-standard 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: High As copper concs offer heard at $60/mt, June loading, trader to smelter, M+1 or M+4 at seller's option, As<2%, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Blended copper concs tradable heard at $5-6/mt, June 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 indicative offer heard at $1-2/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 minus $15/mt, June/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 negative $/mt, June loading, producer to smelter, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $0/mt, June 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 $0-1/mt, June loading, producer to smelter, M+3, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs traded heard at $1-2/mt, June 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 tradable heard at $5-6/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 indicative bid heard at $10/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, June 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 indicative bid heard at $5-6/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 $20/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: Blended copper concs traded heard at $5-6/mt, May-June 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 tradable heard at minus $5-10/mt, June/July loadimg, producer to trader, M+4, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $3-4/mt, June/July loadimg, 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 $0-1/mt, June/July loadimg, 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 tradable heard at $minus 5-10/mt, June/July loadimg, producer to trader, M+4, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs Heard done heard at $20s/mt, 2025 loading, producer to smelter, , according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs offer heard at $1-2/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: Clean copper concs tradable heard at $5-6/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: Clean copper concs Heard done heard at negative $/mt, prompt loading, producer to smelter, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $1/mt, June loading, producer to smelter, M+3, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs indicative offer heard at minus $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 $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 $3-5/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 offer heard at $0-1/mt, June-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: Escondida tender heard on April 24, June loading, producer sell, M+3, bid due on April 26, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $5/mt, June 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 $5/mt, Q2-Q3 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 indicative offer heard at close to $0/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: Very clean copper concs tradable heard at minus $20/mt, H2 2024 loading, producer to trader, M+1 or M+4 at buyer's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: High silver clean concs tradable heard at $6-7/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 offer heard at $0-1/mt, June loading, producer to smelter, M+4, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs indicative offer heard at $1/mt, June-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: Bisha tradable heard at $8-9/mt, June loading, trader to smelter, M+1 or M+4 at seller's option, according to trader source
Platts assessed CIF China clean copper concentrate treatment and refining charges at minus $2.1/mt and minus 0.21 cent/lb, respectively, April 26, down by 60 cents/mt or 0.06 cent/lb from April 25.
Platts assessed producer-to-trader copper concentrate TC/RC differentials at minus $2.30/mt and minus 0.23 cent/lb, respectively, April 26, up by $2.1/mt and 0.21 cent/lb from April 25.
Tradable values were heard at $1-$2/mt for June loading shipment on an M+1 or M+4 pricing at the seller's option, which was normalized to minus $1.6-$2.6/mt by considering a $26.50/mt contango between September and October on an M+3 pricing basis.
As spot TC/RCs fell to a low level, some smelters who have seen June demand decided to buy scrap instead.
“Scrap is [being] traded at a discount of Yuan 2,000/mt ($276/mt) to copper cathodes; there is positive profit margin for smelters to treat scrap rather than concentrate,” a smelter source said.
Surging copper prices also encouraged more domestic supply for scrap, and “you can buy as much as you want to,” the source added.
A seller was concerned about less spot liquidity on falling TC/RCs as “it is not an easy decision to buy at a negative level.”
Some sellers started term contracts negotiation with smelters for 2025 loading shipments, and offers were heard at single digits, while smelters preferred to buy on an index basis.
“Although the market for 2025 could be tighter, smelters don’t want to fix such a low TC in advance,” a source said.
But some traders were heard actively bidding for 2025 shipments from producers, and some sellers were confident that trades could be done at single digits.
A Gibraltar tender was heard done at minus $5/mt from a producer to a trader for 2025 loading shipments, and $10s/mt for 2026 loading shipments, for 80,000 mt for each year, at the buyer’s OP option.
A non-standard clean copper concs traded at $5/mt from a trader to a smelter for June loading shipment, M+1 or M+5 pricing at the seller’s option.
Two shipments of standard clean copper concs traded at $2-$3/mt during the week for June loading shipment, trader to smelter, M+1 or M+4 pricing at the seller’s option.
An offer was heard at flat for June-July loading shipment from a trader to a smelter, M+1 or M+4 pricing at the seller’s option.
Platts is part of S&P Global Commodity Insights.