Copper Concentrate Assessments

Clean Copper Concentrate CIF China basis - this daily assessment is an outright price, treatment and refining charges (TC/RC) and price differentials to the outright price for three major brands, namely, Los Pelambres, Los Bronces and Escondida.

June 18 2026

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-190/mt, August loading, producer to trader, M+4, according to trader source

Platts 25% Cu Copper Concentrate, CIF China: Sierra Gorda tender heard at $-210 to -220/mt, Aug loading, producer to trader, M+3, 10kt, according to market source

Platts 25% Cu Copper Concentrate, CIF China: Sierra Gorda tender heard at $-210 to -220/mt, Aug-Sept/Q4 loading, producer to trader, M+4, 20kt, according to market source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs indicative offer heard at $-130s/mt, August 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 $-130/mt, August 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 related/mt, August 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 offer heard at $-135/mt, August loading, producer to smelter, M+3, according to market source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-125 to -127/mt, August loading, producer to smelter, M+3, according to market source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-125/mt, August 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 $-125/mt, August 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 $-180 to -190/mt, August loading, producer to trader, M+4, according to market source

June 17 2026

Platts 25% Cu Copper Concentrate, CIF China: Voisey’s Bay tender heard, Sep and Nov-Dec loading, producer to trader, 33,000 mt in total, according to market source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-128 to -130/mt, August 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 offer heard at $index minus 20/mt, August 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 $-125 to -130/mt, August 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 $-190/mt, August loading, producer to trader, M+4, according to trader source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-122 to -124/mt, August 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 $-180s/mt, August loading, producer to trader, M+4, according to trader source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs bid heard at $-120 to -125/mt, August 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 $-125 to -130/mt, August loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source

Platts 25% Cu Copper Concentrate, CIF China: Mantoverde tender heard at $-205/mt, July loading, producer to trader, M+1 or M+4 at buyer's option, 10kt, according to market source

June 16 2026

Platts 25% Cu Copper Concentrate, CIF China: Mantoverde tender heard, July loading, producer to trader, M+1 or M+4 at buyer's option, 10kt, according to market source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-180/mt, August loading, producer to trader, M+4, according to trader source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-120 to -125/mt, August 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 10/mt, July 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 $-125/mt, July 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 $-125/mt, August 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 $-180/mt, August loading, producer to trader, M+4, according to trader source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-125/mt, August loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source

June 15 2026

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-180/mt, August loading, producer to trader, M+4, according to smelter source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-125/mt, August loading, trader to smelter, M+1 or M+5 at seller's option, according to smelter source

Platts 25% Cu Copper Concentrate, CIF China: Carmen tender heard, 2H 2026 loading, producer to trader, 60kt, bid due on June 25, according to market source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs bid heard at $-120/mt, August 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 offer heard at $-130/mt, August 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 $-180 to -200/mt, August loading, producer to trader, M+3, according to trader source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-120/mt, August 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 $-125/mt, August 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 15 to minus 20/mt, August 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 $-120 to -125/mt, August 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 $-130/mt, August loading, trader to smelter, M+1 or M+5 at seller's option, according to trader source

June 12 2026

Platts 25% Cu Copper Concentrate, CIF China: Bisha offspecs tender heard, July-Aug loading, producer to trader, M+1 or M+4 at buyer's option, 10kt, bid due on June 18, according to market source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-125 to -130/mt, August 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 $-180 to -190/mt, August loading, producer to trader, M+4, according to market source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs indicative offer heard at $index-15/mt, August 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 indicative offer heard at $-135/mt, August 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 $-160 to -180/mt, August loading, producer to trader, M+3, according to trader source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-125/mt, August 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 $-120/mt, August loading, trader to smelter, M+3, according to trader source

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-120s/mt, August loading, trader to smelter, M+3, according to market source

June 11 2026

Platts 25% Cu Copper Concentrate, CIF China: Clean copper concs tradable heard at $-120s/mt, August loading, trader to smelter, M+1 or M+5 at seller's option, according to market source

• Smelters see continuous reduced usage of copper concs in H2 2026
• Less aggressive bids seen from smelters

Platts assessed the CIF China clean copper concentrate treatment charge and refining charge at minus $125/mt and minus 12.5 cents/lb, respectively, on June 18, unchanged from June 17.

Platts currently applies zero TC/RC spreads when normalizing M+5 pricing to M+3 for smelters' purchase based on market surveys.

Platts assessed producer-to-trader copper concentrates TC/RC differentials at minus $60/mt and minus 6 cents/lb, respectively, on June 18, unchanged from June 17.

Smelters are placing fewer bids due to plant maintenance and production cuts.

“Smelters’ copper concs usage has reduced by at least 10%-20% for most compared to 2025. Some even use copper concs 50% as per normal condition,” a trader said.

Instead, smelters were using more domestic concentrates and secondary materials to meet copper production needs.

“There is still going to be some impact on the copper output,” a smelter source said.

Domestic blister heard still traded at a discount of Yuan 1,000/mt, which has a positive margin to smelters.

Bids from smelters are still heard at minus $120 to minus $125/mt for August loading shipments, and a trader said smelters were not ready to pay minus $130/mt for now.

Spot activities were still quiet, and the market expected liquidity to pick up at the end of June.

“Traders were not in a rush to sell August loading shipments, and smelters might be more active after the Dragon Boat Festival on June 19,” another trader said.

Some smelters are concerned about index pricing in both spot and term contracts.

“We have no idea how the index will be settled. TC/RCs dropped too much in the past few months, and we were reluctant to book anything under the index anymore,” a procurement source said.

Indicative offers heard at minus $130s/mt from traders to smelters, and most sellers still prefer to conclude on an index basis.

Sierra Gorda tender heard done at minus $210 to minus $220/mt from producer to trader for August loading on M+3 basis, August to September loading, and Q4 loading on M+4 basis, totaling 30,000 mt.

“The numbers were too aggressive. We couldn’t bid anything below minus $200/mt,” a trader said.

Platts is part of S&P Global Energy.

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