An eye-watering squeeze in copper ore is firing up the bulls
An index of deals compiled by CRU shows the discount for copper ore – known as treatment and refining charges – has fallen to a record low in data going back to 1989.
The traders are pushing Asian smelters to accept low spot prices for turning their mined copper into metal this year, as opposed to industry benchmarks.
A joint venture valued at $1.5 billion to $2 billion that wants to become Chile’s third lithium producer is in talks with investors to bankroll its project.