This week, lead concentrate TCs were generally flat. The weekly average TC for domestic Pb50 was 200 yuan/mt Pb, and for imported Pb60 it was -$145/dmt. During the week, TCs for standard ores held steady. Some enterprises that set prices at month-end or early in the month continued with previous prices. For silver-lead ores rich in copper and zinc, with non-payable metal content, transaction TCs were at a high level of around -2,900 yuan/mt Pb. For imported ores, smelters were willing to accept silver-lead ore TCs exceeding -$200/dmt, driven by payable metal credits and blending needs. Also, although silver prices fell to around 15,000 yuan/mt during the week, the decline was brief and did not form an absolute low. Combined with high silver recovery rates at lead smelters, the payable indicator for silver in lead concentrates has not yet been lowered.
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