China's copper enterprises repeating the "Iron negotiations" mistakes!
If the market price above the benchmark price of copper, ore business will show the difference of 10% subsidy smelting enterprises (surcharge), the company now concentrate surcharge should be abolished, while further reduce the processing fee.
BHP Billiton has killed coming.
International iron ore price negotiations just concluded soon, the international year of copper raw material negotiations to follow. This year, continued in the international copper prices skyrocketing a "good situation" next to BHP Billiton-led international mining companies have proposed to abolish the "price participation clause", the profit cut copper smelting business requirements, if this is "succeed" China's copper smelting enterprises would find themselves in the cost of the crisis, while the lower reaches of the copper companies have more bad days too.
Domestic copper industry is facing a repeat of "iron ore negotiations" in the past.
Society of Interventional
"Society is studying the international copper raw materials involved in the annual negotiations." Yesterday (the 16th), China Nonferrous Metals Industry Association, told the copper of the Department of Renshang Fu Shan, "First Financial Daily." The day before yesterday (15), China Nonferrous Metals Industry Association has just established a branch of copper, copper smelting, processing capacity at 50,000 tons / year, mining capacity of 100 tons / year or more of the companies were allowed to become chapter members.
China Nonferrous Metals Industry Association, the International Copper raw materials involved in the negotiations behind the year is the year the current international negotiations on raw copper embarrassing stalemate. Earlier this month, has conducted the first round of negotiations, the Chinese copper raw materials joint negotiating team with BHP Billiton ended without result, BHP Billiton a counter in the iron ore negotiations low-key, straight to the abolition of the price participation clause, to reduce smelter copper profits requirements, and this is unacceptable to China.
Currently, the Joint Negotiating Group Total copper raw materials Yunnan Copper, Jiangxi Copper and other 8 members of the enterprise, eight copper smelter copper production in 2005 was 170 million tons, about the year 67% of the country's total output of electrolytic copper; and eight copper smelting enterprises in 2005 3.14 million tons of copper concentrate imports, total imports that year about 78%. In addition to the other side of the negotiations, BHP Billiton, the will also have the world's largest state-owned copper company Codelco, Chile and Australia over up to Copper Company participation.
Talks deadlocked
According to sources involved in the negotiations related to the two main talks focus on Chinese imports of copper concentrate processing fees, and "price participation clause" still continue. The original "price participation clause" provision, as refined copper prices have been better than expected, if the market price of copper rose to baseline (the current agreement the price 90 cents per pound, about 1984 U.S. dollars per ton) above In addition to refining charges, ore smelting business enterprises can receive subsidies for the surcharge, the difference of 10%.
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