China forms new copper body

A Chinese state-controlled trade body has formed a copper division to co-ordinate and monitor copper concentrate imports, a move the industry hopes will protect it from falling smelting fees.
The creation of the group, which was formed by the China Chamber of Commerce of Metals Minerals and Chemicals Importers and Exporters (CCCMC), indicates that Beijing wants Chinese copper smelters to group their imports of raw material concentrate in order to receive better prices, officials said on Tuesday.
"The government wants to use the division to co-ordinate the industry," a smelter official said.
He said the division could set minimum fees paid to Chinese smelters by foreign suppliers for processing imported copper concentrate. A smelter agreeing to lower fees might not receive a permit to import.