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Oil and Gas

China's Tongling Nonferrous, Freeport-McMoRan agree on 2018 benchmark TC/RCs at $82.25/8.225 cents - source

BEIJING/SHANGHAI, Dec 27 (Reuters) -

* China’s leading copper smelter Tongling Nonferrous Metals Group has agreed with Freeport-McMoRan Inc for treatment and refining charges (TC/RCs) at $82.25 per tonne and 8.225 cents per pound as the 2018 benchmark, a company source with the smelter told Reuters on Wednesday.

* The term is 11 percent lower than the 2017 annual benchmarks of $92.50 per tonne and 9.2 cents per pound. (Reporting by Tom Daly in BEIJING and Ruby Lian in SHANGHAI; Editing by Biju Dwarakanath)

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