LS MnM weighs output adjustments as copper concentrate shortage squeezes smelters
LS MnM, Korea’s only dedicated copper smelter, is considering adjusting copper concentrate purchases and production to protect profitability as a global shortage of the raw material drives processing fees to record lows, the company said Monday. The move comes as London Metal Exchange (LME) Week 2026 opens in London on Monday, bringing together miners, traders and smelters to discuss market…
LS MnM, Korea's sole dedicated copper smelter, is contemplating adjustments to its copper concentrate purchases and output to safeguard profitability amid a global scarcity of the essential material. This decision comes as the London Metal Exchange (LME) Week 2026 opens in London on Monday, uniting miners, traders, and smelters to exchange insights on market dynamics and commercial terms.
Copper prices are inching towards record highs, while spot treatment and refining charges (TC/RCs) for copper concentrate have plummeted to their lowest recorded levels, putting a strain on smelters' margins. This situation is a result of a fundamental disconnect between limited mine supply and burgeoning smelting capacity. According to a March analysis by the International Energy Agency (IEA), key factors contributing to this supply crunch include declining ore grades, escalating capital costs, and protracted mine development timelines. The IEA cautioned that low TC/RCs might endure in the medium term.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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