According to Antaike Information, with global copper supply set to increase next year Chinese smelters are likely to hold out for higher treatment and refining charges in the face of a low initial offer from BHP Billiton.
Source:
http://www.steelguru.com/metals_news/Chinese_smelters_holding_out_for_higher_TC_and_RCs_Antaike/294910.html
