Copper refining business and free port protocol to raise refining costs hit a 10 year high

Reuters Hongkong December 10th - America miners free port Maikemolun copper gold company has agreed to pay China, 2015 large refining business annual refining costs will increase by 16.3%, this is the highest level in 10 years, is expected to be the China industry market benchmark.
Refining costs increase, apparently reveal even the miners is expected next year the city will be converted to copper supply of surplus, ending five years of supply shortage. Supply increased psychological expectation continued depressed copper prices, international prices have fallen about 12% this year.
Refining costs rise, often spurred refiners to increase production, which will help to ease the Chinese supply tight, if the refining business also expand exports, while other areas can also benefit from the supply.
Three direct informed sources said on Wednesday, the largest and most comprehensive China copper producer - Jiangxi copper, and other China large refiner, has reached a consensus with the free port, 2015 refined copper refining costs (TC/RC) contract price of $107 per ton, 10.7 cents per pound.
The 2014 contract for 92 U.S. dollars / ton and 9.2 cents / pound, than in 2013 rose 31%.
2015 refining charges the highest since 2005, the applicable objects as to low impurity standard China of copper concentrate.
Free port has yet to comment on the matter.
The TC/RC protocol level roughly in line with market expectations of US $100-110 / ton and 10-11 cents / lb, but below this month the Asian spot market 110-120 dollar /11-12 cents level.