Japan Pan Pacific to agree rise in 2013 TC/RC-source
TOKYO Dec 19 (Reuters) - Japan's biggest copper smelter, Pan Pacific Copper, and a major global miner are set to agree on an annual increase of at least 11 percent in term treatment and refining charges (TC/RC) for 2013 shipments of copper concentrate, a source at the Japanese company said.
The two companies are likely to settle somewhere in the range of $70.0 to $79.0 a tonne and 7.00 U.S. cents to 7.90 U.S. cents a pound for the charges, under the two-year brick contract, up from $63.0 and 6.30 cents for the whole of 2012, said the source, who has direct knowledge of the terms.
The agreement may come by the end of the year, the source added.
Copper treatment and refining charges (TC/RCs) are paid by miners to smelters for converting copper concentrate into refined metal. TC/RC charges typically rise when supply of copper concentrate increases or demand falls in world markets.