Knowledge centre for copper and mineral buyers

The questions that come up before a first transaction: what the trade documents actually commit you to, how material is priced, and what separates one grade from the next. Written for buyers sourcing from Zambia, the DR Congo and Tanzania.

Buyer essentials

FCO, ICPO, LOI, SCO and SPA: The Commodity Trading Documents Explained

FCO, ICPO, LOI, SCO, SPA. The acronyms are used loosely and often in the wrong order. Here is what each document actually is, who issues it, and what it commits you to.

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What Is Gold Doré? Purity, Assay and What a Buyer Is Actually Purchasing

A doré bar is semi-refined gold, cast at or near the mine. What varies is not the concept but the assay, and that is what you are settling on.

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Copper Lot Sizes and Minimum Order Quantities: What You Can Actually Buy

A container, a part-vessel lot, or a monthly programme. The right first order is usually smaller than a seller suggests and larger than a buyer expects.

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Market knowledge

LME vs Non-LME Registered Copper Cathodes: What the Difference Costs You

Registration is a listing decision, not a quality grade. Understanding that distinction is worth several percent on the invoice.

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Pricing

How Much Is Copper Concentrate Per Ton? The Pricing Formula, Worked Through

There is no single price per ton. There is a formula, and once you can run it, every offer becomes comparable.

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Technical

ISRI Copper Scrap Grades: Millberry, Berry, Birch and What Separates Them

Millberry, Berry, Birch, Candy. The ISRI names are precise, and the gap between two adjacent grades is worth real money per tonne.

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