MMG to restart copper concentrate production at Las Bambas, Peru
Hong Kong-listed miner MMG is to recommence the production and transportation of copper concentrate at its Las Bambas copper mine in Peru on 11 June.
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Hong Kong-listed miner MMG is to recommence the production and transportation of copper concentrate at its Las Bambas copper mine in Peru on 11 June.
Smelters’ buying interest for copper concentrate was minimal ahead of the Lunar New Year holidays, when a large number of Asia-based smelters will be out of the market.
As far as SMM understood, the China Smelters Purchase Team (CSPT) finalised the guidance TC/RC for the procurement of spot copper concentrate in Q1 at $70/mt or $0.07/lb.
As far as SMM understood, the China Smelters Purchase Team (CSPT) finalised the guidance TC/RC for the procurement of spot copper concentrate in Q1 at $70/mt or $0.07/lb.
FOCUS: Copper TC/RCs hit decade-lows, market questions where bottom is Treatment and refining charges for copper concentrate fell again to new 10-year-lows in the week ended Friday March 12, with Fastmarketsâ copper concentrate index dropping to less than $30 per tonne/3 cents per lb for the first time. The spot market has been in a prolonged downtrend since 2014, but a recent bout of tightness has seen terms dip by 27% in the past two weeks. TC/RCs, which are discounts to exchange prices paid to smelters for processing ores into metal, are at levels last seen in...