SHANGHAI Jan. 21 (SMM) – Parts of Chinese mines are planning to lower TCs for domestic 50% lead concentrate after the 2016 Chinese New Year holiday, SMM learns.
Recently, both lead and silver prices stay low and zinc prices also remain soft. Thus, cut in TCs for domestic materials after the holiday is necessary to boost lead smelters’ buying interest.
Trading activities decline in domestic market with the upcoming holiday, leaving TCs to stabilize.TCs for Chinese 50% lead concentrate stabilized at 2,500-2,800 yuan per tonne (Pb content) this week. And those for imported concentrate (Pb 60%, Ag < 1,000 g) edged down to $150-160 per dry metric tonne with some offers at $ 170 per dry metric tonne.
Profits for imported materials basically kept unchanged at 590 yuan per tonne (Pb content) above domestic concentrate, SMM estimates.
TCs for Chinese 50% lead concentrate are predicted to head for stability in the short long with waning transactions.
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