China Copper Smelters, Chile Miner in Deadlock Over Fee Talks

Chinese copper smelters, faced with the prospect of negative fees for turning ore into metal, are in stalemate with a major Chilean miner in talks to set a crucial benchmark for the industry.

Annual negotiations between the smelters and Antofagasta Plc. have not progressed since initial meetings took place during an industry gathering in Shanghai last week, according to people familiar with the matter, who asked not to be named because the talks are private.