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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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The influential annual treatment and refining charge (TC/RC) benchmark that sets the price that smelters charge miners to process their copper concentrate could be at risk, according to multiple market sources, although most believe the system, or elements of it, will remain
In anticipation of a tight market, copper concentrate traders have locked in 2025 volumes at notably low treatment charges, with deals being placed well below the long-term industry benchmarks
German copper producer Aurubis is among the least likely to consider reducing capacity despite record low treatment charges (TCs), according to its chief executive officer
More copper smelters are likely to reduce capacity amid record-low spot treatment and refining charges (TCs/RCs), the chief executive of Chile-based copper miner Antofagasta Minerals said
Participants in the copper concentrates market are struggling to comprehend an “unstoppable” decline in treatment and refinement charges (TC/RCs), with every week bringing spot deals at fresh lows and rumors each “crazier” than the last, sources have told Fastmarkets
The recent decline in spot copper concentrates treatment and refining charges (TC/RCs) is startling, with Fastmarkets’ indices falling 38.87% month on month to a record low in February and still falling. But what lies behind the slump, and can anything be done to halt the slide? Fastmarkets investigates
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