Geomechanics.io

  • Free Tools
Sign UpLog In

Geomechanics.io

Geomechanics, Streamlined.

© 2026 Geomechanics.io. All rights reserved.

Geomechanics.io

CMRR-ioGEODB-ioHYDROGEO-ioQCDB-ioFree Tools & CalculatorsBlogLatest Industry News

Industries

MiningConstructionTunnelling

Company

Terms of UsePrivacy PolicyLinkedIn
    AllGeotechnicalMiningInfrastructureMaterialsHazardsEnvironmentalSoftwarePolicy
    Projects

    Copper price nears record high: smelter signals and TC/RC squeeze for mine planners

    April 18, 2026|

    Reviewed by Tom Sullivan

    Copper price nears record high: smelter signals and TC/RC squeeze for mine planners

    First reported on MINING.com

    30 Second Briefing

    Copper futures in New York climbed more than 5% this week to $6.11/lb ($13,480/t), nearing January’s record close as satellite data show Chinese smelters running at unprecedented levels. Earth-i’s SAVANT index reports China’s inactive capacity at just 3.9%, driving an all-time high active capacity of 10.73 Mt, 775,000 t above a year ago, while North American smelter inactivity has surged to 32.3%. Spot TC/RCs have flipped from +$50/t in January 2024 to about –$78.50/t, with Antofagasta’s 2026 benchmark with a Chinese smelter settling at zero, the lowest on record.

    Technical Brief

    • Earth-i’s SAVANT index shows global inactive smelting capacity at 11.7% in March, down from 14.3% in January.
    • Chinese active smelting capacity reached 10.73 Mt, 1.49 Mt above the three-year average and rising.
    • Africa’s central copper belt bucked the global pattern, with strong smelter operating performance relative to other regions.
    • Two Iranian smelters totalling 400 ktpa are offline outside normal maintenance, tightening regional concentrate demand.
    • The 300 ktpa Mount Isa smelter outage pushed Asia & Oceania inactivity to 18.7% versus a 5.7% three-year average.
    • Europe’s idled capacity increased modestly by 2.1%, yet remains lowest globally at 6.2% inactive.
    • North American smelter inactivity climbed sharply, lifting its idle-capacity index above South America’s 27.4% to 32.3%.
    • FOB China sulphuric acid at $210/t in April, up 74% since January, is temporarily supporting Chinese smelter margins.
    • Indonesia’s Batu Hijau export permit expiry and DRC’s 500 ktpa Kamoa-Kakula smelter start-up both divert concentrate from seaborne markets.
    • Antofagasta’s 2026 benchmark TC/RC at $0 sets a new floor, reshaping long-term mine–smelter contract economics.

    Our Take

    Glencore’s presence here via the Mount Isa smelter outage links to our recent coverage of Canada–Quebec talks over the Horne Smelter, underscoring how ageing Glencore copper smelters in both Queensland and Quebec are becoming system-critical bottlenecks for North American and Asia–Oceania concentrate flows.

    In our database of copper pieces, only a handful explicitly track sulfuric acid alongside copper, and those—like this one—tend to involve regions such as the DRC’s central copper belt where new 500 ktpa-class smelters (e.g. Kamoa-Kakula) can swing local acid markets and materially affect oxide leach and heap-leach project economics.

    Geotechnical Software for Modern Teams

    Centralise site data, logs, and lab results with GEODB-io, CMRR-io, and HYDROGEO-io.

    No credit card required.

    • Save and export unlimited calculations
    • Advanced data visualisation
    • Generate professional PDF reports
    • Cloud storage for all your projects

    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

    Related Articles

    Mining
    about 6 hours ago

    BHP Invent–ENFI–BGRIMM MOUs: flowsheet innovation insights for process engineers

    BHP Invent has signed two Memorandums of Understanding with China ENFI, a subsidiary of China Metallurgical Group Corporation, and BGRIMM Technology Group to co-develop technologies for mineral processing, leaching and complex ore treatment. The partnerships focus on flowsheet innovation and metallurgical testwork for challenging ores, including operations in high-altitude environments common to western China. For miners, this signals potential new process routes and reagent schemes for low-grade or refractory deposits, with Chinese engineering houses positioned as key design and pilot-plant partners.

    Ascension’s deep-underground critical minerals tech: process insights for mine planners
    Mining
    about 20 hours ago

    Ascension’s deep-underground critical minerals tech: process insights for mine planners

    Oxford University spinout Ascension has raised £1.7 million in new funding, combining a £670,490 Innovate UK Growth Catalyst grant with £1 million from UKI2S, Oxford Science Enterprises and East X, bringing total capital raised to £6.2 million. The company’s Selective Recovery programme targets rare earths and other critical minerals in deep volcanic glass, aiming to separate metals in situ and cut surface processing stages. Ascension’s process uses natural geothermal heat in volcanic rock deposits, avoiding excavation, high-temperature surface processing and associated land disturbance.

    Mining
    about 22 hours ago

    Holcim UK’s 20 LiuGong 870HE loaders: quarry power and layout implications for engineers

    Holcim UK is deploying 20 LiuGong 870HE pure electric wheel loaders across its quarry fleet, expanding one of the highest-tonnage battery-electric loader deployments in the sector. The 870HE units, among the largest pure electric loaders currently available, are targeted at high-duty quarry loading cycles traditionally dominated by diesel machines. For geotechnical and quarry operators, this signals accelerating adoption of heavy battery-electric equipment for primary load-and-haul, with implications for power supply design, charging infrastructure layout and ventilation requirements in future pit and plant planning.

    Related Industries & Products

    Mining

    Geotechnical software solutions for mining operations including CMRR analysis, hydrogeological testing, and data management.

    CMRR-io

    Streamline coal mine roof stability assessments with our cloud-based CMRR software featuring automated calculations, multi-scenario analysis, and collaborative workflows.

    HYDROGEO-io

    Comprehensive hydrogeological testing platform for managing, analysing, and reporting on packer tests, lugeon values, and hydraulic conductivity assessments.

    GEODB-io

    Centralised geotechnical data management solution for storing, accessing, and analysing all your site investigation and material testing data.