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Gresik suspension pushes imported copper concentrate TCs higher-2019 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
12/3/2018 有色金属展-Copper exhibition -non-ferrous metals expo |
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SMM reported that offers for imported copper concentrate treatment charges (TCs) gained USD 1 per tonne over the week ended Friday November 30, to USD 91-95 per tonne. More concentrate supplies entered the domestic market after PT Smelting declared force majeure at its Gresik smelter in Indonesia, and this accounted for the higher TCs. While the smelter was scheduled to end maintenance by the end of November, resumption was delayed by a month. Triple-digit TCs were heard in the market, in a purchase made by a large Chinese copper smelter from Gresik, market talk suggested on November 29.
SMM expects further upward room in the imported TCs as Gresik remains suspended.
Market talk suggested that a large Chinese copper smelter purchased some 130,000 tonne of copper concentrate from Gresik smelter in Indonesia with treatment charges (TCs) in the triple digits, much higher than the current spot TCs of USD 95 per tonne. It is reported that PT Smelting declared force majeure at its Gresik smelter and diverted concentrate supply to the spot market. With capacity of 300,000 tonnes per year, the smelter is undergoing maintenance that was scheduled to be completed a month ago. Most copper concentrate the Gresik smelter manufactures comes from the Grasberg gold and copper mine in Papua province in Indonesia. 有色金属展-铜材展-2019年广州国际有色金属工业（铜业）展览会-2019 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition -Non-Ferrous Metal exhibition, 2019
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