Platts launches daily producer-to-trader copper concentrate TC/RC differentials

S&P Global Platts has launched daily copper concentrate treatment and refining charge (TC/RC) differentials for producer-to-trader pricing, CIF China basis, effective Dec. 1, 2021.

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

Platts originally published the proposal and decision notes on Sept. 6 and Oct. 1, which can be found at:

Platts proposes to launch daily producer-to-trader copper concentrate TC/RC differential | S&P Global Platts (spglobal.com)

Platts to launch daily producer-to-trader copper concentrate TC/RC differentials from Dec. 1 | S&P Global Platts (spglobal.com)

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 symbols for the new assessments are:

PCCCH00 - Copper Concentrate Producer-Trader Refining Charge Differential Cts/lb

PCCCH03 - Copper Concentrate Producer-Trader Refining Charge Differential MAvg Cts/lb

PCCCH04 - Copper Concentrate Producer-Trader Refining Charge Differential WAvg Cts/lb

PCCCG00 - Copper Concentrate Producer-Trader Treatment Charge Differential $/mt

PCCCG03 - Copper Concentrate Producer-Trader Treatment Charge Differential MAvg $/mt

PCCCG04 - Copper Concentrate Producer-Trader Treatment Charge Differential WAvg $/mt

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.

Platts-assessments-methodology-guide.pdf (spglobal.com)

Platts Methodologies | S&P Global Platts (spglobal.com)

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.