Smelters Actively Procure Domestic Zinc Ore, China TCs Are Expected to Decline in April [SMM Weekly Review of Zinc Concentrates]

Published: Apr 3, 2026 16:02

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[Smelters Actively Procure Domestic Zinc Ore, China TCs Are Expected to Decline in April]: Weekly data showed that the average weekly SMM Zn50 domestic TC fell 200 yuan/mt Zn MoM to 1,350 yuan/mt Zn, while the SMM imported zinc concentrates index fell $12.22/dmt MoM to -$14.5/dmt...

SMM News on April 3:

Weekly data showed that the average weekly TC for SMM Zn50 domestic material fell by 200 yuan/mt Zn WoW to 1,350 yuan/mt Zn, while the SMM imported zinc concentrate index dropped by $12.22/dmt WoW to -$14.5/dmt.

China domestic ore market. This week, China domestic smelters negotiated April pricing for domestic zinc concentrate TCs. Affected by tightness in the imported ore market, smelters actively procured domestic zinc concentrates, and the rise in April domestic TCs was capped, with expectations of certain downward adjustments in some regions. In addition, SMM learned that the April tender price for self pick-up zinc concentrates at a mine in Southwest China was close to 1,400 yuan/mt Zn recently, slightly lower MoM than the winning bid price last month.

Imported ore market. Recently, offers in the imported zinc concentrate market increased, and ore traders continued to lower their TC offer levels, while some smelters were still on the sidelines, resulting in limited overall transactions during the week. It is understood that transaction prices for port spot cargoes of high-content material were recently heard at around -$20/dmt, while some containerized high-content material was offered at around -$10/dmt, and overall imported zinc concentrate TCs continued to decline.

This week, total SMM zinc concentrate inventory at China main ports stood at 317,000 mt in physical content, down 32,800 mt in physical content WoW, with Lianyungang and Fangchenggang contributing most of the decline.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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