铜精矿Processing And Refining Fees in Asia Are Uncertain in The First Quarter Due To Sluggish Demand And Supply Concerns

Asian demand for copper concentrate is likely to be depressed in the first quarter as several smelters in the region undergo overhauls and clean concentrate output is expected to lag demand, putting downward pressure on processing refining fees (TC/RCs). Major smelters in Japan will undergo maintenance in the first half of 2023, according to market sources. Daye Nonferrous will upgrade its 600,000-ton a year production line from March to June, the smelter said. Some Chinese smelters also faced production problems in the fourth quarter of 2022, resulting in high inventories and low spot demand. At the same time, ample supplies of road-transported copper concentrates have weighed on spot sales.