Miner Freeport-McMoRan and two large Chinese copper smelters on Thursday agreed a 23% cut in annual treatment and refining charges (TC/RCs) for 2020, pushing the industry benchmark to a nine-year low.
Freeport settled with Jiangxi Copper and Tongling Nonferrous Metals in two separate deals at the same price, Javier Targhetta, president of Atlantic Copper and senior vice president for marketing and sales at Freeport told Reuters.