NEWS
Copper  

China's 2019 term TC/RCs for imported copper drop on slow growth expectations

Chinese analysts attributed the drop in fees to the anticipated slow down in the world's mined copper output growth, amid the building of new smelters in China.

Jiangxi Copper and Chilean Antofagasta inked the term fee for 2019 at $80.80/mt and 8.08 cents/lb, lower than 2018 rates of $82.25/mt and 8.225 cents/lb, Jiangxi Copper said in its weekly report, noting that the 2019 fee is in line with Chinese smelters' target level.

But Jiangxi Copper said the fee for the first quarter of 2019 was above $90/mt, and 9 cents/lb, and that they expect ample supply of near term spot concentrate before the restart of overseas smelters.

Hangzhou-based Chinese brokerage Nanhau Futures said in its copper report that since Q2 this year, spot fees kept rising, due to problems at various smelters in India, Philippines and China.

The brokerage said the world's mined copper supply is still limited, with the globe's 2019 copper concentrate supply seen adding just 500,000 mt. Jiangxi Copper shared similar views, noting that the global mined copper supply was 16.47 million mt in 2018, with 2019 supply growth rate expected at just 2.7% year on year.

News No: 2658
Date: 2018/11/19 - 14:50
News Source: S & P Global Platts

China  Jiangxi Copper  Chilean Antofagasta  Hangzhou 

Comments:

Leave a Comment:

   
   
   
 

China’s 2019 steel use, output forecast to drop

China's steel consumption could fall in 2019 after it accelerated to double-digit growth this year, state-run Chinese think-tank the metallurgical planning and research institute said today.
 

China's Nov. Oil, Gas Imports Set Record

China’s imports of crude oil hit a fresh monthly high in November, customs data showed on Saturday, beating the record set in October on heavy buying from private refiners and trial starts of new mega-refineries.
 

China’s Graphite Electrodes Production Falls by 4.5% M-o-M basis in Nov’18

With the start of winter heating season in November came the output restrictions in China’s steel sector as a part of country’s anti-pollution campaign.
 

Iran-China Banking Channel Resumes Transactions

China's Bank of Kunlun which deals with financial affairs of China National Petroleum Corporation has resumed conducting financial transactions between with Iran, an informed source said on Saturday.
 

Iran, China Poised to Develop Banking Ties

Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati in a Tuesday meeting with Chinese Ambassador to Iran Pang Sen discussed ways to broaden banking relations between Tehran and Beijing.
 

SVB Energy Int’l: Crude Exports to Average 1.2mbpd Until March

Despite waivers the US government granted to eight countries after imposing sanctions on Iran’s oil exports, the country’s crude sales will fluctuate between 1.1and 1.3 million barrels per day for the rest of the year, president of SVB Energy International in Washington, DC said.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners