China smelter fees may be linked to startup delay, Barclays

摘要

Chinese copper miner Zijin Mining’s delayed startup of its 200,000 mt copper smelter “could ncertainly be taken as evidence that the current downward trend in TC/RCs, a reŠection in part of the ndrastic underperformance of the mine supply-side, is weighing on domestic re‹ned production ndecision-making, “Barclays Capital said Tuesday. Also, China’s 18% yr-on-yr rise in re‹ned copper noutput, an 18% drop in concentrate imports on month and the highest re‹ned copper imports since nMay 2010 show “a shift in domestic demand composition towards the latter for the time at least.”nData Source: LME