Chinese Copper Smelters Lower Expectations on Flat BHP Offer

Reuters reported that Chinese copper smelters are lowering expectations for 2013 term and refining charges after receiving a disappointing offer from BHP Billiton.

As quoted in the market report:

The smelters have yet to strike deals on 2013 treatment and refining charges (TC/RC) after meetings with global miner BHP Billiton , the majority owner of Escondida in Chile, and Freeport-McMoRan Copper & Gold in China and London in recent weeks.

To view the whole Reuters report, click here.