DJ quoted Europe's largest copper producer Aurubis AG as saying that copper treatment and refining charges haven't changed much, despite the labor resolution at Chile's Escondida mine.

TC and RCs are charges paid by miners to smelters for converting concentrate into metal. A strike at Escondida would have meant reduced concentrate supplies.

Aurubis said that "Although a strike at the Chilean Escondida mine could be prevented after reaching a consensus about wage increases there has hardly been any movement in the TC and RCs in the spot business for copper concentrates."

Escondida is controlled and operated by BHP Billiton Limited. Workers at the mine accepted an early wage and benefits package ahead of the December 5th 2009 contract expiration date earlier this month.

Aurubis said that Chinese smelters are looking at TC and RCs of around USD 60 per tonne and 6 cents a pound for annual agreements 2010. The company said that the copper scrap market has only changed slightly. The supply is somewhat weaker, with Chinese buyers keeping a low profile.

(Sourced from Dow Jones)