Antofagasta Proposes Spot Index Pricing for H2 2026 Copper Ore Sales to Chinese Smelters
Updated
Updated · Bloomberg · Jun 17
Antofagasta Proposes Spot Index Pricing for H2 2026 Copper Ore Sales to Chinese Smelters
3 articles · Updated · Bloomberg · Jun 17
Summary
Antofagasta recently approached at least two Chinese smelters with a plan to price contractual copper concentrate shipments off spot-market indexes instead of fixed terms.
The proposal covers second-half 2026 and first-half 2027 deliveries, putting the change directly into ongoing contract talks for semi-processed ore sales.
That move signals mounting strain on the decades-old benchmark system for copper concentrate deals, which has traditionally relied on fixed-price arrangements between miners and smelters.