China copper smelters slash charges.

China's top copper smelters on Thursday lowered their floor treatment and refining charges (TC/RCs) for the third quarter by 24.7 percent, two people familiar with the matter said, with one adding smelters will consider cutting output if low rates persist.

The 10-member China Smelters Purchase Team (CSPT) set the treatment charge floor at $55 per tonne, and the refining charge floor at 5.5 cents a pound at a meeting in Hunchun, in northeast China's Jilin province, said the people, who asked not to be identified due to the sensitivity of the matter.

The group has now cut its floor for two straight quarters. The TC/RC floor for the second quarter was $73...