{
  "id": 15604680,
  "title": "LS MnM weighs output adjustments as copper concentrate shortage squeezes smelters",
  "url": "https://urgent.news/2026/10/19/ls-mnm-weighs-output-adjustments-as-copper-concentrate-shortage",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T13:02:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/business/companies/20261019/ls-mnm-weighs-output-adjustments-as-copper-concentrate-shortage-squeezes-smelters"
  },
  "original_language": "en",
  "account": "LS MnM, Korea's sole dedicated copper smelter, is contemplating alterations to its copper concentrate purchases and production in order to safeguard its profitability amid a global scarcity of the essential material, the company announced on Monday. The decision follows the opening of LME Week 2026 in London, which gathers miners, traders, and smelters to deliberate on market conditions and commercial terms. Copper prices are nearing record highs, while the spot treatment and refining charges (TC/RCs) for copper concentrate have plummeted to record lows, tightening smelters' margins. This imbalance stems from a structural disparity between constrained mine supply and expanding smelting capacity. According to a March analysis by the International Energy Agency (IEA), declining ore grades, escalating capital costs, and lengthy mine development timelines are the primary constraints on copper concentrate supplies. Additionally, new smelting capacity is burgeoning at a faster pace than mine production, exacerbating competition for raw materials. The IEA cautioned that low TC/RCs may endure in the medium term, posing challenges for smelters.",
  "summary": "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…",
  "key_points": [
    "LS MnM, Korea's sole copper smelter, considers output adjustments to combat copper shortage.",
    "Copper prices near records, but concentrate TC/RCs hit record lows, squeezing margins.",
    "IEA warns low concentrate prices may persist, posing long-term challenges for smelters."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "LS MnM weighs output adjustments as copper concentrate shortage squeezes smelters",
        "url": "https://urgent.news/2026/10/19/ls-mnm-weighs-output-adjustments-as-copper-concentrate-shortage-15608461",
        "published": "2026-10-19T13:37:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}