Having accumulated large stockpiles of concentrates in H2 2013 and having secured a greater proportion of smelter feed on long term contracts for 2014, Chinese smelters have been less active than usual in the spot market this year. However, our contacts in the trade noted a significant uptick in buying interest from China in the last few weeks, driving down terms notably. We have heard rumours of three package deals reached between traders and unspecified CSPT smelters during the last month.
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