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Copper’s essential role in the energy transition is creating a volatile and dynamic market. A series of production problems has hit mine output around the world, leaving smelters scrambling for copper concentrates. The strong demand for copper concentrates has pushed the treatment charges and refining charges (TC/RCs) down to record lows. Meanwhile, the price for refined copper has hit all-time highs on the LME. Yet, as we switch from fossil fuels to renewable energy, copper demand is expected to soar.
To help you navigate this complex market, we aim to bring you reliable and timely intelligence and analysis on copper, including both copper concentrates TC/RCs plus the implied smelter and trading buying levels. As these copper prices have broken through record levels, they’ve come under scrutiny from the industry. The divergence between between the spot TC price and the traditional, negotiated benchmark is disrupting the industry.
If you’d like to talk to us about our copper price data, news and market analysis, get in touch today.
Fastmarkets focuses on understanding the market dynamics through a process known as price discovery. Fastmarkets price reporters determine the current market evaluation of individual prices within the copper market by talking to those who buy, sell and trade copper.
Our subscribers get price data based on weekly and monthly price assessments that reflect the tradeable value in the open and competitive market. Our price data helps subscribers tackle:
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BHP reported lower FY27 copper guidance, sanctioned two Spence processing projects, disclosed a disruption at Carrapateena and highlighted progress on an Olympic Dam smelter expansion in its July 16 results package.
Participants in the zinc concentrate market have been tracking several competing signals in recent weeks.
New York-headquartered global commodities company Hartree Partners will take the first 330,000 tonnes of copper concentrate from Blue Moon Metals’ Nussir project in Norway, Christian Kargl-Simard, the critical metals developer’s chief executive officer, told Fastmarkets on Monday July 6.
JX Advanced Metals, Mitsui Kinzoku, Marubeni and Mitsubishi Materials(MMC) inked a deal to integrate MMC’s copper concentrate procurement and related products sales business into Pan Pacific Copper (PPC), marking a significant consolidation of Japan’s copper concentrate purchasing sector amid persistent pressure from weak treatment and refining charges (TC/RCs).
Copper producers, including Atlas Mining, reported higher earnings in the first quarter of 2026 on the back of elevated copper prices, while concentrate output declined at several operations in Chile, Brazil, Colombia and the Philippines due to lower ore grades and disruptions, according to company results reviewed by Fastmarkets.
The function of treatment and refining charges (TC/RCs) for copper concentrates is being partially displaced by a broader set of commercial levers amid elevated byproduct values – including readjusted gold and silver payables, sulfuric acid tolling arrangements between miners and smelters, and renewed trade in gold-bearing pyrite materials – copper concentrates market participants told Fastmarkets at CESCO Week 2026 in Santiago, Chile, from April 13-17.
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