November 21, 2013 / 4:45 AM / 4 years ago

Japan's Pan Pacific sets 2014 copper TC/RCs with Freeport at $92/9.2 cents

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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.

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