Subscriber note: Platts to assess copper TC/RC quarterly

Platts is proposing to reduce the frequency of assessment for copper concentrate treatment and refining charges, CIF Japan (symbols AAFGC00 and MMCCJ00), and to align the name of the assessments across Platts Metals Daily, Platts Metals Alert and the Platts internal database. Effective March 1, the assessments will be made quarterly, rather than on the current daily schedule. The change reflects the long-standing market practice in Japan, where copper concentrate TC/RCs are negotiated primarily on a semi-annual (half-year) basis. The quarterly assessment will take into account the most recently concluded deals, bids or offers for copper concentrate TC/RCs under quarterly, semi-annual or annual contracts. The change in assessment frequency reflects what has prevailed in the market and will not result in a change to the data history or the consistency of the data going forward. The assessment names as they appear in Platts Metals Daily and Platts Metals Alert will change to: Copper Concentrate TC CIF Japan (symbol AAFGC00), expressed as a range in dollars per mt, and Copper Concentrate RC CIF Japan (symbol MMCCJ00), expressed as a range in cents/lb. The specification for the copper concentrate remains 25-30% Cu copper-in-concentrate, any origin, lumpy ore, 0-30-day payment terms; cargo begins leaving port in month following transaction. Please address feedback to Karen McBeth, karen_mcbeth@platts.com.