U.S. Markets open in 7 hrs 42 mins

China Jiangxi Copper, Freeport agree 2014 TC/RC at $92/T, 9.2 cents/lb - sources

HONG KONG, Nov 18 (Reuters) - China's Jiangxi Copper Company Ltd and U.S. miner Freeport McMoRan have agreed to treatment and refining charges (TC/RC) of $92 per tonne and 9.2 cents per pound for copper concentrate shipments in 2014, up 31 percent from 2013 shipments, sources said on Monday.

Miners pay TC/RCs to smelters to convert concentrate into refined metal, with charges deducted from the sale price. The charges typically rise when supply increases.