Chile’s Antofagasta Plc has reached out to Chinese copper smelters with a proposal to tie ore sales to spot‑market indexes, signaling pressure on the long‑standing fixed‑price model.

The move follows years of contracts set at set rates, which have become less reflective of global supply shifts. By linking prices to real‑time market data, Antofagasta aims to align revenues with actual copper value.

Smelters could see immediate gains from tighter pricing, while the miner may secure better margins amid volatile spot prices. The shift could prompt other producers to revisit contract terms, reshaping the copper supply chain.

Antofagasta’s strategy points to a broader industry trend toward market‑linked pricing, potentially increasing price transparency for buyers and sellers alike.