Africa’s first transcontinental rail network, known as the Lobito Corridor, which aims to eventually connect almost the entire regional copper-cobalt belt with additional links across sub-Saharan Africa, is on track to break ground early in 2026, a senior official at the US Department of State told Fastmarkets.

The availability of relatively untapped resources, a huge influx of Chinese investment and a rapid licensing system have helped the Democratic Republic of Congo (DRC) to become one of the world’s three key producers of copper.

There has been a freefall in copper concentrates treatment and refining charges (TC/RCs) this year amid tighter supply in the market. In 2025, supply tightness is projected to keep copper concentrates TC/RCs low on average for the whole year, sources told Fastmarkets.

The publication of Fastmarkets’ Shanghai copper premiums on Monday December 23 were delayed because of a reporter error. Fastmarkets’ pricing database has been updated.

Unlike most other commodities, cobalt is primarily a by-product – with 60% derived from copper and 38% from nickel – so how will changes in those markets change the picture for cobalt in the coming months following a year of price weakness and oversupply in 2024?

Copper recycling will become increasingly critical as the world transitions to cleaner energy systems, the International Energy Agency (IEA) said in a special report published early this week.

Fastmarkets invited feedback from the industry on the pricing methodology for its International Organization of Securities Commissions (IOSCO)-audited non-ferrous metals, via an open consultation process between October 8 and November 7, 2024. This consultation was done as part of our published annual methodology review process.

Chinese authorities officially announced that they will be expanding the range of permitted recycled copper and aluminium imports from mid-November, but market participants Fastmarkets spoke to at a conference this week are not convinced that this will mean more material will be imported into the country in the short run.

Unprecedented supply tightness and record low treatment and refining charges (TC/RCs) are likely to challenge copper smelters in 2025 – even more than in 2024, sources told Fastmarkets.

Copper concentrate treatment charges (TCs) are expected to remain low in 2025, with the market likely to remain tight, sources from across the industry told Fastmarkets.