Antofagasta agrees $23.25/t with China smelters for midyear treatment fees, sources say
By Julian Luk
HONG KONG, June 27 (Reuters) -Copper miner Antofagasta ANTO.L has agreed midyear treatment and refining charges (TC/RCs) of $23.25 a tonne and $2.325 cents a pound with some Chinese smelters, two sources told Reuters.
That is a significant drop from $80 a ton and 8 cents per pound agreed between the Chilean miner and Chinese smelters for 2024 annual supply.
TC/RCs are a gauge of availability for copper concentrates, raw material for producing refined copper. A lower TC signals tighter supply.
Reporting by Julian Luk; Editing by Kim Coghill
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