1 WORLD’S FIRST FLOATING WIND FARM BEGINS OPERATING IN SCOTLAND WWW.BLOOMBERG.COM  PUBLISHED:2017/10/19      2 NATIONAL FORUM TO BE ORGANIZED TO REDUCE AIR POLLUTION WWW.MONTSAME.MN  PUBLISHED:2017/10/19      3 STEP AHEAD IN REALISATION MONGOLIAN NORTHERN RAIL CORRIDOR WWW.RAILFREIGHT.COM PUBLISHED:2017/10/19      4 GOLDMAN SACHS PREFERS GOLD TO BITCOIN WWW.RT.COM PUBLISHED:2017/10/19      5 POLITICAL PARTY FINANCING IN MONGOLIA: A ROAD TO GRAND CORRUPTION? WWW.POLITICSOFHOPE.COM PUBLISHED:2017/10/19      6 ABOUT 1000 TEACHERS IN MONGOLIA INTEND TO GO ON HUNDER STRIKE OVER LOW SALARIES WWW.AKIPRESS.COM  PUBLISHED:2017/10/19      7 UK BANKS EXPOSED TO MONEY LAUNDERING IN SOUTH AFRICA WWW.BBC.COM  PUBLISHED:2017/10/19      8 PARLIAMENT APPOINTS FIVE MINISTERS WWW.MONTSAME.MN  PUBLISHED:2017/10/19      9 CHILE'S COCHILCO BOOSTS COPPER FORECAST TO NEAR $3 PER POUND IN 2018 WWW.MINING.COM PUBLISHED:2017/10/19      10 OCTOBER 18, 2017 TRADING REPORT WWW.MSE.MN  PUBLISHED:2017/10/19      Ч.ХҮРЭЛБААТАР: ЗАСГИЙН ГАЗАР ДОТООДЫН БАНКУУДААС ӨНДӨР ХҮҮТЭЙ ЗЭЭЛ АВЧ БАЙГААГ ТЭГЛЭНЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2017/10/19     “ЭДИЙН ЗАСГИЙН КОРИДОР”-ЫН АСУУДЛААР ХЭЛЭЛЦЭЖ БАЙНА WWW.MONGOLIANMININGJOURNAL.COM  НИЙТЭЛСЭН:2017/10/19     “АГААР ОРЧНЫ БОХИРДЛЫГ БУУРУУЛАХ ТЕХНИК, ТЕХНОЛОГИ МЭДЭЭЛЛИЙН ТӨВ" БАЙГУУЛНА WWW.DNN.MN  НИЙТЭЛСЭН:2017/10/19     ОРОСЫН ХИЙГЭЭР ЦЭНЭГЛЭГДЭХ ШИНЭ ТОРГОНЫ ЗАМ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2017/10/19     MBD БИЗНЕС ХӨТӨЛБӨР ЛОНДОН ХОТ, ИХ БРИТАНИ (БҮРТГЭЛ МАРГААШ ДУУСНА) WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2017/10/19     МОНГОЛБАНК: ИНФЛЯЦ 8 ХУВИЙН ЗОРИЛТОТ ТҮВШИНД ХАДГАЛАГДАНА WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2017/10/19     10-Р САРЫН 18-НЫ ӨДРИЙН АРИЛЖААНЫ МЭДЭЭ WWW.MSE.MN  НИЙТЭЛСЭН:2017/10/19     ЭМД-ЫН ХУРААМЖИЙГ БУУРУУЛАХАД 2018 ОНООС ТОДОРХОЙ АРГА ХЭМЖЭЭ АВНА ГЭВ WWW.DNN.MN  НИЙТЭЛСЭН:2017/10/19     START-UP MONGOLIA: МОНГОЛД ГАРААНЫ БИЗНЕС ХӨГЖИХ ОРЧНЫ ҮЗҮҮЛЭЛТ 3.5 ОНООТОЙ БАЙНА WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2017/10/19     Г.ЗАНДАНШАТАРЫГ ЗАСГИЙН ГАЗРЫН ХЭРЭГ ЭРХЛЭХ ГАЗРЫН ДАРГААР ТОМИЛОВ WWW.DNN.MN  НИЙТЭЛСЭН:2017/10/18    

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