Chinese copper smelters are likely to receive between 9 and 20 percent more raw materials for copper ore processing by global mining companies next year, reflecting higher global copper production, according to executives and traders at smelters in Hong Kong, Oct. 29 .

    Chinese smelters are expected to clean, the standard copper concentrate in 2015 targets refining and processing costs (TC / RC) from 2014 to 92 US dollars per tonne and 9.2 cents per pound, respectively, rose to 100-110 US dollars and 10-11 Cents.

    Processing and refining costs are paid to the smelter by the miners to process the concentrate into refined metal, which is deducted from the price of the copper concentrate purchased by the smelter. With the increase in copper concentrate supply, smelting capacity needs and costs also rose, which smelters brought higher profits.

    According to the data, copper production in 2015 is expected to grow 8.6% over the previous year.

    Chinese smelters had expected refining and processing costs in 2015 to 115 US dollars, in London last week at the LME Week with the global miners after the study and slightly reduced expectations. Smelter executives said the mining enterprises in the discussion did not give estimates.

    Executives who declined to be named because they were not authorized to communicate with the media say they are not willing to significantly increase their 2015 refining and processing fees because some of the new mining companies will bid for their supplies for blending into their own Low-grade supply.

    "If it reaches $ 105 and $ 10.5, it's pretty good," the executive said.

    But another major smelter's executives said that many Chinese smelters believe that these for the blending of the need to substantially reduce the 2015 contract processing refining costs.

    Two executives and one industry source said that including the free port of McMurray copper and gold companies and BHP Billiton, including smelters and miners, will be held next month, the first round of formal consultations, smelter's initial offer may In the 115-120 US dollars and 11.5-12 cents.

    According to a Western mining company sources, the global mining enterprises may hope in 2015 processing and refining costs less than 100 US dollars and 10 cents.

    Chinese smelters and free port agreed 2014 costs of 92 dollars and 9.2 cents. The smelter failed to finalize annual rates with BHP Billiton, but agreed to settle for $ 99 and 9.9 cents in the first half of 2014.

    Pan Pacific Copper, Japan's largest copper smelter, has set targets for processing and refining costs of US $ 100 and more than 10 cents by 2015. At the same time, European smelters expected prices in the 105-115 US dollars and 10.5-11.5 cents.

    ** Chilean copper prices Codelco **

    The demand for clean, standard copper concentrates is increasing as new mines are put into operation, with companies such as Coleco's Mini tro Hales in Chile and Chinalco's Toromocho mine in Peru.

    Codelco is likely to buy about 300,000 tonnes of clean, standard copper concentrate from the international market in 2015, mixed with about 30,000 tonnes of copper concentrate from the Ministro Hales mine, and sold it to China, industry sources familiar with the Codelco business said.

    Codelco's Chile representative declined to comment.

    The company expects purchases equal to a quarter of China's record-high imports in September.

    Codelco's mixed copper concentrates are expected to be sold to China in 2015, with refining and refining costs about $ 10 per tonne higher than the standard grade and 1 cent higher per pound.