Metal Bulletin proposes to launch two blister copper refining charges (RC) assessments, namely blister copper 98-99% spot RC cif China, and blister copper 98-99% annual benchmark RC cif China. The spot assessment will be published on a monthly basis while the benchmark assessment will be published on an annual basis.
Blister copper, an intermediate copper product used by smelters for refined coper production, is known as one of the first options for scrap replacement. Imports of blister copper into China, the world’s biggest importer, have grown substantially over the past few years to account for about 8% of China’s copper unit imports.
More blister copper is expected to flow into the country to fill the supply gap arising from a drop in the scrap import quotas amid anti-pollution curbs. Seeing a growing interest in blister copper trade, Metal Bulletin is looking to provide regular trackers of the refining charges on both a contract and spot basis. While the annual benchmark reflects the market’s view towards the medium-to-long term demand-supply fundamentals, the spot RC serves as an indicator of domestic smelting operating status or seasonal changes.
The specification, delivery terms and publication timing will be as follows:
Price: Blister copper 98-99% spot RC cif China
Type: Assessed single number and range
Chemical specification: Blister copper of 98-99% copper content, with varying payables
Basis: Blister copper 98-99% spot RC cif China
Currency: USD per tonne
Unit: Tonne
Delivery window: Within 2 months
Publication: Monthly, end of the month between 3pm and 4pm London time
Price: Blister copper 98-99% annual benchmark RC cif China
Type: Assessed single number and range
Chemical specification: Blister copper of 98-99% copper content, with varying payables
Basis: Blister copper 98-99% annual benchmark RC cif China
Currency: USD per tonne
Unit: Tonne
Publication: Annually, January or February of the year
The consultation period for this proposed launch will end one month from the date of this pricing notice on 28 February 2018. Changes will take place, subject to the results of this consultation, from Wednesday February 28.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter to these prices, please contact Julian Luk and Archie Hunter by email at: pricing@metalbulletin.com. Please add the subject heading FAO: Julian Luk/Archie Hunter, re: Blister copper 98-99% spot RC cif China, blister copper 98-99% annual benchmark RC cif China.
To see all Metal Bulletin’s pricing methodology and specification documents go to: www.metalbulletin.com/prices/pricing-methodology