Metal Bulletin has launched an index for copper concentrate treatment and refining charges (TC/RCs) on a cif Asia-Pacific ports basis.
Metal Bulletin's Mark Burton outlines the details of the index, and the reasons behind it.
The TC/RC index was published for the first time on Friday March 14 2014, after more than a year of research and consultation with the industry, at a value of $91.88 per dry metric tonne/9.188 cents per lb. This compares with $65.52/6.552 cents on June 15 2013.
TC/RCs are charges for the cost of transforming copper concentrates into cathode through smelting and refining.
Rises and falls in TC/RCs provide an insight into the balance of supply and demand in the copper concentrates market.
As such, they can be a leading indicator for supply and demand in the refined copper market.
The index, the first such price in the copper concentrates market, will be published twice every calendar month, on the 15th and last day of each month, or the closest preceding day in the event that such dates fall on a weekend or a UK public holiday.
For full details of the specification, click here.
Want to check the price history? You can sign up here.
For a market report on the launch date of the price, click here.