5 days ago
Chinese Copper Smelters Get Only Short-Term Relief on Margins
Chinese copper smelters are getting short-term relief from higher fees, although the improvement in profitability may not be enough to entice them into lifting production.
While spot treatment charges to turn concentrate into refined metal are still deeply negative, they've ticked higher over the past six weeks. That's largely due to a surge in discounted Indonesian supplies, freeing up more cargoes for delivery to China, where over half the world's smelting capacity is located.
