HAMBURG (Reuters) - Global spot copper ore treatment and refining charges (TC/RCs) are rising because of a production stop at Sterlite copper smelter, Europe's biggest copper producer Aurubis said on Thursday.
Global spot TC/RCs have risen by $5 a tonne in the past few weeks to $85 a tonne and 8.5 cents a pound, Aurubis said.
TC/RCs are fees paid by miners to smelters to refine concentrate into metal and are a key part of the global copper industry's earnings. Spot fees had been around $80 a tonne and 8 cents a pound in March and April.
"The spot market for copper concentrates continues to benefit from the production stop at the Indian Sterlite smelter, which frees up 3,000 tonnes of concentrates on the market each day," Aurubis said.
The 300,000-tonne capacity Sterlite Industries plant was shut on March 30 after residents complained of pollution that led to breathing problems. The closure order is being appealed by the company.
When refinery capacity is removed from the market, mines and traders have to compete for capacity for their concentrate and so TC/RCs often rise.
(Reporting by Michael Hogan; editing by James Jukwey)