Copper smelters turn to by-products, complex concentrates amid supply scarcity

Fastmarkets12-09

Key takeaways: Strategies for negative TCs: Hindalco and Aurubis focus on digital efficiency, recycling, by-product valorization, and complex concentrate processing. Copper supply gap: Industry needs...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2590343620?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-12-09 13:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2590343620","market":"us","top_or_hot":-1,"title":"Copper smelters turn to by-products, complex concentrates amid supply scarcity","media":"Fastmarkets","content":"<div>\n<p>Key takeaways:\n\nStrategies for negative TCs: Hindalco and Aurubis focus on digital efficiency, recycling, by-product valorization, and complex concentrate processing.\nCopper supply gap: Industry needs...</p>\n\n<a href=\"https://www.fastmarkets.com/insights/copper-smelters-turn-to-by-products-complex-concentrates-amid-supply-scarcity/\">Source Link</a>\n\n</div>\n","source":"fastmarkets_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Copper smelters turn to by-products, complex concentrates amid supply scarcity</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCopper smelters turn to by-products, complex concentrates amid supply scarcity\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-12-09 13:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fastmarkets.com/insights/copper-smelters-turn-to-by-products-complex-concentrates-amid-supply-scarcity/><strong>Fastmarkets</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key takeaways:\n\nStrategies for negative TCs: Hindalco and Aurubis focus on digital efficiency, recycling, by-product valorization, and complex concentrate processing.\nCopper supply gap: Industry needs...</p>\n\n<a href=\"https://www.fastmarkets.com/insights/copper-smelters-turn-to-by-products-complex-concentrates-amid-supply-scarcity/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4110","symbol_name":"抵押房地产投资信托","start_time":0,"source_url":"https://www.fastmarkets.com/insights/copper-smelters-turn-to-by-products-complex-concentrates-amid-supply-scarcity/","article_id":"2590343620","we_media_id":null,"thumbnails":[],"rights":{"source":"fastmarkets_highlight","url":"https://www.fastmarkets.com/insights/copper-smelters-turn-to-by-products-complex-concentrates-amid-supply-scarcity/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2590343620","pubTimestamp":1765256400,"columns":[],"sourceInfo":{"source_id":"fastmarkets_highlight","name":"Fastmarkets"},"weMediaInfo":null,"summary":"Find out how copper smelters are addressing demand challenges with innovative strategies at the Resourcing Tomorrow conference.","collect":0,"end_time":0,"defaultTopTitle":"fastmarkets.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4110":"抵押房地产投资信托","RC":"Ready Capital Corp"},"translate_title":"铜冶炼厂在供应短缺的情况下转向副产品、复杂精矿","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MHGmain":0.9,"MNDmain":0.86,"RC":1,"QCmain":0.9},"content_text":"Key takeaways:\n\nStrategies for negative TCs: Hindalco and Aurubis focus on digital efficiency, recycling, by-product valorization, and complex concentrate processing.\nCopper supply gap: Industry needs one new major mine annually; India to become second-largest consumer by 2035.\nRecycling expansion: Aurubis and Hindalco invest in recycling facilities; US to retain 25% copper scrap domestically by 2027.\nCritical mineral status: Copper recognized as critical by US, India, EU, boosting financial support and faster permitting processes.\n\nMajor copper smelters Hindalco and Aurubis outlined strategies including digital efficiency, by-product valorization, recycling and complex concentrate processing to combat deeply negative treatment charges (TCs) at the Resourcing Tomorrow conference in London on Tuesday December 2.\nThe copper industry needs one new major mine online every year to meet demand, but project timelines of 17-25 years mean the industry faces a supply gap it cannot close, Juan Ignacio Díaz, president and chief executive officer of the International Copper Association, said at the event.\n“I honestly don’t know where we’re going to get the copper from,” Díaz said.\nTCs are expected to remain at their worst levels in the first and second quarters of 2026, with limited improvement expected until the second half of the year, according to Rohit Pathak, chief executive officer of copper business at Hindalco Industries.\n“The marketing businesses are always [a] cost game. I think [we are in] the first quarter [and] second quarter at the worst in the curve and then [it will be] fine,” Pathak said.\n\nSmelter strategies\nPathak outlined four initiatives Hindalco is pursuing to address the challenging TC environment.\nThe company is investing heavily in digital analytics to improve process efficiency, he said. It is also working with partners to create value from by-products, having reduced waste by 95% and targeting zero-waste landfill and zero-liquid-discharge operations.\nHindalco, one of India’s largest aluminum and copper producers, is building capability to handle more complex concentrates, which command better TCs and refining charges (RC) terms in a market where standard material remains scarce.“While [clean] concentrates are tight, the market for tougher [concentrate] rates are still a little more open,” Pathak said.\nThe company is also investing in quality customization, using real-time data from customer plants to tailor products and charge premium prices.\nFastmarkets calculated the copper concentrates TC index, cif Asia Pacific at $(66.40) per tonne on Friday November 28, down by $1 per tonne from $(65.40) per tonne a week earlier. \nThe index, which represents the midpoint between smelter and trader buying levels, has been in negative territory since mid-December 2024, when it fell to $(0.70) per tonne from $1.20 per tonne a week prior.\nSecondary capacity expansion\nTore Prang, vice president of corporate communications and external affairs at Aurubis, said the company opened a new recycling facility in Richmond, Georgia, in 2025 with capacity to process 180,000 tonnes of input material annually, producing 70,000-80,000 tonnes of output.“The US has always exported copper scrap and metal scrap to China. Recently, the US administration introduced quotas for copper scrap export to China… about 25% of the material should be processed in the country,” Prang said.\nThe US government plans to restrict copper scrap exports starting in 2027, requiring at least 25% of high-quality copper scrap be retained for domestic use, Prang said. The US exported nearly 957,000 tonnes of copper scrap in 2024, with China historically receiving 40-50% of shipments.\nThe Aurubis facility is modular and can be expanded, Prang said.\nPathak said Hindalco is constructing India’s first integrated copper scrap and e-waste recycling plant in Gujarat, near its existing copper smelter complex.\nThe ₹2,000 crore ($240 million) first phase will process 300,000-350,000 tonnes of scrap and e-waste annually to recover approximately 50,000 tonnes of copper, with commissioning expected by the end of 2026. The full project targets 200,000 tonnes of annual copper output, he said.\nCritical mineral, supply crisis recognition \nGovernments are increasingly recognizing copper’s strategic importance, Díaz said. The US recently designated copper as a critical mineral, which brings financial benefits and faster permitting. India has also classified copper as a critical mineral.\nThe European Union has designated copper as a critical raw material, while China has embedded copper into its industrial policy without formal designation, he said. “Every country has a different approach. And the commonality of them is that copper is being recognized as essential.”\nGlobal copper mine production stood at approximately 23 million tonnes in 2024, while refined copper production reached around 27.5 million tonnes, with secondary production from scrap recycling accounting for roughly 17-18% of the total. Díaz said production needs to roughly double to meet future demand.\nDíaz warned that the industry needs “one committed mine, the [size of the] largest copper mine in the world, [per year] in order to meet the demand.”\nArgentina project development\nJimena Latorre, minister of energy, mining and environment for the government of Mendoza, said the PSJ Cobre Mendocino project near the Chile border could be the first to produce copper in the province, with production possible within two years. The project has full capacity of 40,000 tonnes of fine copper per year over a 16-year lifespan.\nLatorre said Mendoza has reduced permitting timelines to five months [from 18 months, according to government statements]. The Malargüe Mining District has more than 150 exploration projects, she said.\nIndia to become the world’s second-largest copper consumer\nPathak projected India’s copper consumption will grow from 1.7 million tonnes currently to 4-5 million tonnes by 2035, making it the world’s second-largest consuming region.\nIndia is growing at 8-10% annually, driven by national grid expansion, renewable energy buildout with 300 gigawatts of renewable power planned in the next five years, air conditioning demand, electric vehicle adoption and consumer electronics manufacturing, he said.\n“In the next 10 to 15 years… three-fourths of India will get built,” Pathak said.\nThe panel, titled “Copper at the Crossroads: Balancing Energy Transition Demand and Supply Realities,” took place at the Resourcing Tomorrow conference running December 2-4, 2025 at the Business Design Centre in London.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2590343620","isCrawlerRequest":true}