Weekly Review of Lead Concentrates Market (February 22-28, 2025) [SMM Weekly Review on Lead Concentrates]
As the end of February approaches, there is no expectation for adjustments in March Pb50TC. Smelters do not anticipate a recovery in lead concentrate supply for Q1. This week, silver prices weakened, prompting some smelters to actively inquire and buy the dip. TC for certain high-silver lead ores slightly decreased, but mainstream Pb50TC quotations remained at 500-800 yuan/mt (metal content). For imported ores, market transactions remained sluggish this week, with few forward quotations. Low-silver Pb60TC was mainly at -$10/dmt to -$5/dmt, while high-silver lead ores remained at -$30 to -$40/dmt.
