December 2023

China copper blister supply still tight in December; 2024 negotiations underway

Spot supply for copper blister remained tight amid unfavorable import conditions, leaving refining charges (RC) sideways or lower in December, Fastmarkets heard.

Spot copper concentrate TC/RCs at 28-month low

Spot copper concentrate treatment and refining charges (TC/RCs) continued to decline in a seller’s market during the week to Friday December 29, falling to the lowest level since early August 2021.

LME base metals prices, except copper, end year on high note

Base metals prices on the London Metal Exchange all rose week on week at the close of trading on the last business day of 2023, excluding copper.

Discussions for annual refined copper, zinc contracts in Europe slow: sources

Sources across the copper and zinc value chain in Europe have told Fastmarkets that annual contract discussions for 2024 are happening at a slower pace than most years.

Low trading volumes hinder LME base metals price movements

Three-month London Metal Exchange base metals prices started the morning mixed, nickel and tin moved most significantly down 1.7% and 1.3% respectively.

SHFE base metal prices decline across the board

Base metal prices on the Shanghai Futures Exchange (SHFE) declined across the board during the morning trading session on Friday December 29, with nickel and tin registering the biggest falls.

LME base metals prices mostly down on limited trading

London Metal Exchange three-month base metal prices were mostly down at the 5pm close on Thursday December 28, with copper and nickel leading the declines.

LME base metal prices broadly stable on Thursday morning; 27,000 tonnes of aluminium flow into LME sheds

Three-month base metals prices on the London Metal Exchange were broadly stable at the start of trading on Thursday December 28, with the most, bar lead, posting marginal losses.

China’s CSPT cuts copper TC/RC guidance by 15.8% for Q1 2024

China's Copper Smelters Purchase Team (CSPT) set a buying guidance of $80 per tonne/8.0 cents per lb for copper concentrate treatment and refining charges (TC/RCs) for the first quarter of 2024, Fastmarkets learned on Thursday December 28.

LME approves delivery of CLM brand grade A copper

The London Metal Exchange approved the listing of CLM brand grade A copper on Wednesday December 27, with immediate effect for its delivery against copper contracts on the bourse.