NEWS
The procurement team of major copper smelters in China has lowered copper processing and refining costs for the second quarter of 2023
Release time:
2023-09-05 14:04
CSPT has set the TC/RC cost for the second quarter of 2023 at $90 per ton and 9.3 cents per pound, which is lower than the $93 per ton and 9.3 cents per pound in the first quarter of 2023.
The TC/RC in the first quarter reached a five-year high due to market expectations of an oversupply of copper concentrate this year. However, production has been disrupted in some key production areas recently, with Peru, the world's second largest copper producer, having been plagued by protests and protesters launching some attacks on the mining area. In Panama, Canada's First Quantum Mining Company suspended its ore processing business at the Cobre copper mine at the end of February due to the government's suspension of port loading, which affected the company's ability to store copper. However, after the Panamanian government and First Quantum reached an agreement on the contract for the Cobre copper mine, the mine resumed operations in mid March. In February, heavy rain and mudslides in Indonesia forced the Indonesian Free Port Company to stop its mining and processing activities.
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