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Japan's Mitsubishi Materials may scale back copper smelting due to worsening margins
Japan's Mitsubishi Materials is considering scaling back copper concentrate processing at its Onahama Smelter & Refinery as falling treatment and processing charges (TC/RCs) weigh on earnings, it said on Monday. In June, peer JX Advanced Metals said that it was also considering copper production cuts due to a significant deterioration in ore purchase terms. Mitsubishi Materials said the worsening TC/RCs from miners were expected to further erode smelting margins. "To maintain and improve profitability, we need to raise the ratio of recycled raw materials and accelerate the shift to feedstock less vulnerable to TC/RC ... (full story)
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