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Japan copper smelters face tough talks with global miners over processing fee
Japanese copper smelters face tough mid-year negotiations with global miners over treatment and processing charges (TC/RCs) as they wouldn’t be able to accept the very low terms that Chinese smelters agreed with suppliers, the Japan Mining Industry Association’s head said on Thursday. Some Chinese smelters agreed TC/RCs of $0 per metric ton and 0 cents per pound with Chilean miner Antofagasta during mid-year talks last month. These rates are seen as an industry benchmark and compare with the 2025 annual charges at $21.25 a ton and 2.125 cents per pound agreed between the Chilean company and Chinese smelters. ... (full story)