China Scrap Price of Copper Shoots Up, Pan Pacific Hikes TC/RCs

On Friday, September 6, Chinese bright copper scrap jumped up 16.3 percent on MetalMiner’s daily price index.

Meanwhile, Japan’s Pan Pacific Copper, the country’s biggest smelter, hiked up their 2014 copper concentrate treatment and refining charges, according to Reuters. “The company is aiming for 2014 TC/RCs of $95 per tonne or 9.5 cents per pound, up from around $70 and 7 cents for 2013, Shigeru Oi, senior executive officer, told a news conference. Pan Pacific expects to start negotiations with miners in October.”

Interestingly, “Pan Pacific…may also seek a higher premium of $130 per tonne for copper term shipments to China in 2014, up from $85 in 2013,” according to Reuters.

More Daily Copper Prices

Back on the index, the price of Chinese copper wire fell 0.6 percent. The price of Chinese copper bar is back up, rising by 0.2 percent last Friday. The cash price of Chinese copper rose 0.2 percent after a two-day drop.

* Get the complete prices every day on the MetalMiner IndX℠

The cash price of primary Japanese copper saw a 1.6 percent decline. After a 0.3 percent increase, the price of US copper producer grade 122 finished the day higher. The price of US copper producer grade 110 finished the market day up 0.3 percent per pound. After a 0.2 percent increase, the price of US copper producer grade 102 finished the day higher as well.

The copper 3-month price weakened by 0.4 percent on the LME, settling at $7,132 per metric ton. Also on the LME, the cash price of primary copper declined 0.3 percent to $7,101 per metric ton.

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