Morning Bites (part 2)

🏭Cooper treatment charges (TC) plunged to a record low of minus USD 8.3/t in early-2025, as Indonesian supply disruption exacerbates an already tight market, Bloomberg reports, citing Fastmarket data. The processing fee fell to its lowest point since 2013, as smelters compete to secure feedstock. Chinese smelters (~50% of the world’s output) are stepping up spot purchases amid the concentrate shortage: Jiangxi Copper last month signed concentrate supply deals for this year at $21.25/t, which is below the breakeven point of $35-40/t

We maintain our positive view on copper, given supply issues related to growing global demand for renewables, as well as surging investments in China’s grid infrastructure (which represents ~8% of global Cu demand, on our numbers)

#copper
https://metals-wire.com/sector/Copper