Reuters reported that Japan's biggest copper smelter, Pan Pacific Copper, and a major global miner are set to agree on an annual increase of at least 11% in term treatment and refining charges (TC/RC) for 2013 shipments of copper concentrate
A source at the Japanese company said that the two companies are likely to settle somewhere in the range of USD 70.0 to USD 79.0 a tonne and 7.00 US cents to 7.90 US cents a pound for the charges, under the two-year brick contract, up from USD 63.0 and 6.30 cents for the whole of 2012.
The source added that the agreement may come by the end of the year.
Copper treatment and refining charges are paid by miners to smelters for converting copper concentrate into refined metal. TC/RC charges typically rise when supply of copper concentrate increases or demand falls in world markets.