Despite a period of quiet trading, due to the Chinese New Year, 2003 has seen little let up in the overall demand for copper concentrates. A trader told MB that the market was the tightest he had seen in his career. Global tightness has been driven by widespread production cutbacks from the major mines due to low metal prices. "[Treatment charges for] spot sales have been in the mid-20s dollars and may go even lower when the Chinese come back into the market," he said. He added that some buyers were looking for "nearby" material with delivery as early as the end of February and early March.
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