December 29, 2017 / 4:32 AM / a year ago

China's copper smelters cut treatment, refining charges for Q1 2018 -sources

BEIJING, Dec 29 (Reuters) - China’s copper smelters have set the floor for their first-quarter treatment and refining charges (TC/RCs) at $87 per tonne and 8.7 cents per pound, respectively, two sources close to the China Smelters Purchase Team (CSPT) said.

The 10-member CSPT set the minimum level for treatment fees 8.4 percent lower from the fourth-quarter rates of $95 per tonne and 9.5 cents per pound.

The new TC/RCs remains higher than the 2018 benchmark agreed by Tongling Nonferrous Metals Group and Freeport-McMoRan at $82.25 per tonne or 8.225 cents per pound on Wednesday. (Reporting by Muyu Xu and Tom Daly in BEIJING; Additional reporting by Ruby Lian in SHANGHAI; Editing by Kenneth Maxwell)

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