Japan's Pan Pacific sets 2014 copper TC/RCs with Freeport at $92/9.2 cents
TOKYO Nov 21 (Reuters) - Pan Pacific Copper agreed copper processing fees for 2014 with Freeport-McMoRan Copper & Gold Inc that are 31 percent higher than this year, a spokesman at Japan's biggest smelter said on Thursday.
The treatment and refining charges (TC/RCs) were set at $92 per tonne and 9.2 cents per pound respectively compared with $70 and 7 cents for 2013, the spokesman said. The charges are similar to what Freeport has agreed to pay to China's leading copper smelters.
Pan Pacific, the world's third-biggest smelter and a unit of JX Holdings Inc, had aimed for 2014 TC/RCs of $95 and 9.5 cents.