Platts to launch daily producer-to-trader copper concentrate TC/RC differentials from Dec. 1

Following market feedback, S&P Global Platts has decided to launch copper concentrate treatment and refining charge (TC/RC) differentials for producer-to-trader pricing, CIF China basis. These new assessments, Copper Concentrate Producer-Trader Differentials, will start publishing effective Dec. 1, 2021.

The new assessment would be a differential reflecting the premium or discount for TC/RCs being achieved in trading activity between producers and traders over the Platts CCC benchmark assessment.

Platts originally published the proposal on Sept. 6, and the relevant note can be found at:

https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/090621-platts-proposes-to-launch-daily-produce-to-trader-copper-concentrate-tcrc-differential

The assessment would reflect the spot market value of clean copper concentrates of any origin at 4:30 pm Singapore time, for typical trading activity between producers and traders, expressed as a TC/RC differential to the Platts Clean Copper Concentrate CIF China Treatment Charge (PCCCB00) and Clean Copper Concentrate CIF China Refining Charge cents/lb (PCCCC00). All specifications for this new differential would follow the existing Platts Clean Copper Concentrate CIF China specifications here. Observed quotation periods (QPs) would be normalized to align with the standard QP for Platts CCC.

The assessments would consider trade information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications, as well as any other data deemed relevant to the assessment process. Full description of the Platts assessments methodology and data hierarchy can be found here.

Please send all comments, feedback and questions to platts_asia_copper@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.