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China Copper Smelters to Discuss Fees as Crisis Roils Sector
Leading Chinese copper smelters may discuss production plans at a quarterly meeting next week after plunging processing fees threatened to wipe out their profits in a major challenge for the industry. Smelters including Jiangxi Copper Co. and Tongling Nonferrous Metals Group Co. will meet in Shanghai next Thursday, according to people with knowledge of the matter. The agenda includes the outlook for the concentrate market, and setting guidance for spot processing fees in the second quarter, said the people, who asked not to be named discussing a private matter. Attendees may also discuss output plans. Smelters in ... (full story)