December 27, 2018 / 11:23 AM / 8 months ago

China copper smelters raise TC/RC floor for Q1 2019 - sources

BEIJING, Dec 27 (Reuters) - China’s top copper smelters on Thursday raised their floor treatment and refining charges (TC/RCs) for the first quarter of 2019 by 2.2 percent, sources with knowledge of the matter said.

At a meeting in Shanghai, the 10-member China Smelters Purchase Team (CSPT) set the TC floor for the first quarter at $92 per tonne and the RC floor at 9.2 cents per pound, up from $90 per tonne and 9 cents per pound, respectively, in the fourth quarter of 2018, two sources said. The rates for the first quarter of 2018 were $87 per tonne and 8.7 cents per pound. (Reporting by Tom Daly and Melanie Burton)

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