1 NSO RELEASES ITS JANUARY SOCIO-ECONOMIC REPORT WWW.GOGO.MN PUBLISHED:2018/02/19      2 JSCS TO DISTRIBUTE SHARE DIVIDENDS WWW.GOGO.MN PUBLISHED:2018/02/19      3 LABOR LAW AMENDMENTS TO BE SUBMITTED TO PARLIAMENT WWW.GOGO.MN PUBLISHED:2018/02/19      4 MONGOLIAN FOREIGN MINISTER TO VISIT TOKYO WWW.NEWS.MN PUBLISHED:2018/02/19      5 MONGOLIAN TRIO DAVAADORJ, NYAMSUREN AND BATTULGA SWITCH TO UAE WWW.JUDOINSIDE.COM PUBLISHED:2018/02/19      6 OYU TOLGOI NOTIFIED OF GOVERNMENT OF MONGOLIA’S CANCELLATION OF POWER SECTOR COOPERATION AGREEMENT WWW.TURQUOISEHILL.COM  PUBLISHED:2018/02/19      7 CHINA’S ‘ONE BELT, ONE ROAD’ IS THREAT TO US IN LATIN AMERICA – US COMMANDER WWW.RT.COM PUBLISHED:2018/02/18      8 ARMED FORCES CELEBRATE GRADUATION OF OFFICERS FROM MONGOLIA WWW.GULF-TIMES.COM PUBLISHED:2018/02/18      9 IRISH MEN TO DRIVE FROM MAYO TO MONGOLIA TO RAISE MONEY FOR THE HOMELESS WWW.THEJOURNAL.IE PUBLISHED:2018/02/18      10 RIO TINTO’S MONGOLIAN COPPER WORRIES MOUNT WWW.MINING.COM PUBLISHED:2018/02/18      "COCA-COLA” УС, УНДААНЫ НЭР ТӨРЛӨӨ ТӨРӨЛЖҮҮЛСЭН НЬ БОРЛУУЛАЛТЫН ОРЛОГОД НЬ ЭЕРЭГЭЭР НӨЛӨӨЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/02/19     МОНГОЛЫН БАНКНЫ ХОЛБООНЫ ЕРӨНХИЙЛӨГЧӨӨР Ө.ГАНЗОРИГ ТОМИЛОГДЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/02/19     МУИС, ГАВАНЫН ИХ СУРГУУЛЬТАЙ ХАМТРАН АЖИЛЛАХААР БОЛОВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/02/19     ЗАСГИЙН ГАЗАР “ОЮУНТОЛГОЙ”-Н ЦАХИЛГААН СТАНЦ БАРИХ ГЭРЭЭГ ЦУЦЛАВ WWW.NEWS.MN  НИЙТЭЛСЭН:2018/02/19     ДОЛОО ХОНОГИЙН АРИЛЖААНЫ ТОЙМ МЭДЭЭ WWW.MSE.MN НИЙТЭЛСЭН:2018/02/19     “ЭРДЭНЭТ”-ИЙН АСУУДЛААР АРБИТРТ ДАВЖ ЗААЛДАХ ЭРХГҮЙ БОЛЖЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/02/19     ЭРДЭС БҮТЭЭГДЭХҮҮНИЙ ЭКСПОРТ 6.3 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/02/19     МАНАЙ ГУРВАН ЖҮДОЧ АРАБЫН НЭГДСЭН ЭМИРАТЫН НЭРИЙН ӨМНӨӨС БАРИЛДАНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/02/19     "ТАЛХ ЧИХЭР" ХК НОГДОЛ АШИГ ТАРААНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/02/18     "ОЮУ ТОЛГОЙ” ЭРЧИМ ХҮЧНИЙ ӨӨР ХУВИЛБАРЫГ СОНГОН ХЭРЭГЖҮҮЛЭХЭЭ МЭДЭГДЭВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/02/18    

More bad news for copper price www.mining.com

Copper futures trading on the Comex market in New York turned lower again on Thursday after indications that top consumer China will be well supplied with concentrate going in the the fourth quarter.

Copper for delivery in December declined 1% to 2.92 a pound ($6,437 a tonne) in early afternoon trade. Earlier this month copper touched a three-year high just shy of $3.18 a pound (more than $7,000 a tonne).

But disappointment about imports by China, rising stock levels at LME warehouses and fewer mine disruptions saw the rally come to a screeching halt.

Today more bad news hit the market.

In a sign that primary copper supply is far from tight, Chinese smelters just hiked their treatment and refining charges by as much as 10%.

TC/RCs paid by mining companies to turn concentrate into metal are a good indication of conditions in the spot market.

The 10-member China Smelters Purchase Team (CSPT) set the minimum level for treatment fees at $95 per tonne and hiked refining charges to 9.5 cents per pound at their latest meeting in Shanghai on Thursday, according to a Reuters report.

That's up from $86 in the current quarter and the highest since Q4 2016 when copper was averaging $2.40 a pound ($5,290 a tonne):

Daniel Meng, head of China materials research at CLSA in Hong Kong, described the TC/RCs as a "very good result" for the smelters and said he had not expected such high rates as supply and demand were broadly seen as balanced.



Published Date:2017-09-22