Platts 25% Cu Copper Concentrate, CIF China: road-transported clean copper concs trade heard at $-235/mt, Dec loading, producer to smelter, M+3, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-320 to -340/mt, 2027 loaidng, producer to trader, M+0 or M+4 at buyer's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-240s/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $index minus 10/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: High As copper concs trade heard at $below -200/mt, Q4 loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $index flat/mt, Nov loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-240s/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs trade heard at $-248/mt, Q4 loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Andina/El Teniente/Rajo Inca/Calcine tender heard at $-360/mt, 2027 loaidng, producer sell, M+4, 40kt, bid due on Oct. 15. according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-320/mt, Nov-Dec loading, producer to trader, M+0 or M+4 at buyer's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-240 /mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-235 to -240/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $index minus a single digit/mt, Nov loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-240 to -245/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-240 to -250/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-240s/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-240 to -250/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-330 to -334/mt, 2027 loaidng, producer to trader, M+0 or M+4 at buyer's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $index minus a single digit/mt, Nov loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs trade heard at $-248/mt, Q4 loading, trader to smelter, M+1 or M+5 at seller's option, 10kt, according to trader source after MOC
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-310 to -320/mt, Nov loading, producer to trader, M+0 or M+4 at buyer's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $index minus a single digit/mt, Nov loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs indicative bid heard at $-237 to -239/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-310 to -330/mt, 2027 loaidng, producer to trader, M+0 or M+4 at buyer's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-245 to -250/mt, Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-237 to -239/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-300 to -310/mt, 2027 loaidng, producer to trader, M+0 or M+4 at buyer's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-200s/mt, Q4 loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-235/mt, Nov loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-240 to -250/mt, Dec-Jan loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-235/mt, Nov loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs trade heard at $index-10s/mt, Nov loading, trader to smelter, M+1 or M+4 at seller's option, small tonnages, traded during the week of Oct. 9, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-245 to -250/mt, Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Andina/El Teniente/Rajo Inca/Calcine tender heard, 2027 loaidng, producer sell, M+4, 40kt, bid due on Oct. 15. according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-238/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-300/mt, Nov loading, producer to trader, M+0 or M+4 at buyer's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Antamina tender heard, December loading, producer to trader, M+2, 10kt, bid due on Oct. 14, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Highland Valley Copper tender heard, December loading, producer to trader, M+0 or M+4 at buyer's option, 10kt, bid due on Oct. 14, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $below -300/mt, 2027 loading, producer to trader, M+1 or M+4 at buyer's option, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-235 to -236/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs bid heard at $index minus a single digit/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs trade heard at index-$5/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, 30kt, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs bid heard at $-200/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs bid heard at $index flat/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs trade heard at $-280/mt, Nov loading, producer to trader, M+4, 7kt, container voyage, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Los Pelambres tender heard at $-334/mt, 2027 loading, producer to trader, M+4, 40kt, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Centinela tender heard at $-310/mt, Nov loading, producer to trader, M+1, 10kt, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-320 to -330/mt, Nov-Dec loading, producer to trader, M+4, according to market source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $index-10s/mt, Nov loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source
Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs offer heard at $-240 to -250/mt, Nov-Dec loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source
Platts assessed the CIF China clean copper concentrate treatment charge and refining charge at minus $245/metric ton and minus 24.50 cents/lb, respectively, on Oct. 19, down $5/mt and 0.50 cent/lb from Oct. 16.
Tradable values were heard at minus $245/mt on an M+1 or M+5 pricing basis, at the seller's option, for November-loading clean copper concentrates in a trader-to-smelter transaction.
Platts currently applies zero TC/RC spreads when normalizing M+5 pricing to M+3 for smelter purchases based on market surveys.
Platts assessed producer-to-trader copper concentrate TC/RC differentials at minus $80/mt and minus 8 cents/lb, respectively, on Oct. 19, unchanged from Oct. 16.
A package deal comprising clean copper concentrate at minus $248/mt and high-arsenic Collahuasi concentrate priced in the high minus-$190s/mt was heard to have been concluded between a trader and a smelter for Q4 loading.
Separately, a producer-to-smelter transaction for road-transported clean copper concentrates was heard to have been concluded at around minus $235/mt on an M+3 basis for December loading.
Several market participants said repeatable fixed-number values were in the mid-to-high minus $240s/mt, while demand for November-loading cargoes remained weak due to smelter maintenance and year-end production targets having largely been met.
A trader source said some buyers could accept values around minus $240s/mt, although acceptance remained selective.
"The fundamental picture has not changed much. The main difference is that smelters are showing more resistance," another trader source said.
Market participants said smelters were increasingly pushing for index-flat terms, while single-digit discounts were more achievable than double-digit discounts now.
Sources said demand for December- and January-loading shipments remained strong as smelters prepare for early-2027 requirements. At the same time, lower long-term contract coverage than in previous years has left more material exposed to the spot market, so cargoes were still available to offer in the spot market.
Meanwhile, traders were heard becoming more cautious in tenders, although views remained divided. Producer-to-trader TCRCs were generally discussed at minus $320/mt to minus $340/mt.
A tender for 2027-loading Andina, El Teniente, Rajo Inca or Calcine material was heard to have been concluded at around minus $360/mt, while December-loading Antamina and Highland Valley Copper tenders were heard to have been concluded in the minus $350s/mt and minus $370s/mt range, respectively.
Market participants said attention was increasingly shifting toward 2027 annual contract negotiations. Some sources noted that weaker sulfuric acid prices could limit smelters' willingness to accept significantly more negative TCRCs next year.
Platts is part of S&P Global Energy.