Recent Trends In Smelting And Refining Terms And Conditions

One of the most frequently asked quesitons is: "Where is copper (price and usage) going?" I will not attempt to forecast either the future price of copper or the future growth of the copper industry; rather I would like to discuss the current trends experienced in the smelting and refining terms and conditions for sales and/or purchases of copper concentrates. A brief review of contract language and terms, together with a review of the common jargon, I believe, would be helpful. To accomplish this review, I will first list what I consider the four basic parts or sections of a basic ore contract and then illustrate basic terms with calculations.