SMM News, March 20:
Weekly data showed that the average weekly TC for SMM Zn50 domestic ore was flat at 1,550 yuan/mt in metal content, while the SMM imported zinc concentrates index fell $6.02/dmt WoW to $5.23/dmt.
China domestic ore market. In mid-month, the China zinc concentrates market saw mediocre performance, with smelters in many regions continuing to implement procurement contracts, and overall domestic TCs remaining basically stable. Imported ore market. Recently, cyclone weather in Australia continued to disrupt zinc concentrates transportation, with few imported zinc concentrates offers during the week, and the overall decline in TCs continued. It was learned that recently, high-zinc-content concentrates were offered at negative single-digit US dollar levels, while South American high-grade ore containers were traded at around $10. In addition, this week, the tender result for New Century zinc concentrates was heard to be below -$10, with a tender volume of 10kt and a July shipment schedule.
According to reports, on March 11, the commissioning ceremony for the 100,000 mt/year mining and beneficiation project of the Daliang Zinc Mine in Duyun, Guizhou, was held. It was reported that the project was led by the Provincial Geological and Mineral Exploration Institute, with cumulative investment of about 200 million yuan, and had built a mine with annual capacity of 100,000 mt and a beneficiation plant with annual processing capacity of 150,000 mt. The mining area had superior resource endowment, with more than 6 million mt of retained zinc ore resources, more than 200,000 mt in zinc metal content, an average grade of about 4, and significant comprehensive value from associated pyrite. After the project reaches full production, it will directly support stable employment for more than 200 local residents. It will subsequently gradually raise capacity and expand to a 500,000 mt/year mining and beneficiation scale, becoming an important pillar for promoting local economic development.
This week, SMM zinc concentrates inventory at China main ports totaled 371,000 mt in physical content, an increase of 4,000 mt in physical content WoW, with Jinzhou Port contributing the main increment.
