Key facts
- Antofagasta proposed using spot-market indexes for copper ore sales to Chinese smelters.
- This signals strain on the long-standing fixed-price contract system for copper ore.
Chilean mining company Antofagasta has proposed a shift in how it prices copper ore sales to Chinese smelters. The company is suggesting a move away from the decades-old system of fixed-price contracts towards using spot-market indexes. This proposal indicates growing pressure and potential strain on the established pricing mechanisms within the global copper market.
