SMM News on April 30:
This week, zinc concentrate TCs remained stable. The weekly average SMM Zn50 domestic TC price held steady WoW at 3,450 yuan/mt (metal content), while the weekly average SMM Zn50 imported TC price also remained unchanged WoW at $40/dmt.
In the spot ore market, this week marked the peak period for domestic TC negotiations. Some domestic smelters still maintained a sentiment to stand firm on quotes, while mines showed low willingness to raise prices. Negotiations between the two sides were intense, and it was necessary to await the actual negotiation results in various regions after the holiday. Regarding imported zinc ore, traders were more active in offering quotes this week, with stable pricing. However, some smelters had high expectations for further increases in imported TCs. Spot transactions of imported zinc ore remained sluggish during the week, with TCs remaining stable. Additionally, the tender price for zinc ore from a certain mine in south China in May was recently set at 3,540 yuan/mt (metal content), down 60 yuan/mt (metal content) WoW. The tender results for Buenavista zinc ore were announced this week, with Buenavista and traders agreeing on a TC of $30/dmt for a tender volume of 20,000 mt, to be shipped in two batches in May and July/August.
This week, the total inventory of zinc concentrates at SMM's main ports in China reached 401,000 mt, an increase of 21,000 mt WoW, indicating a growth in zinc ore inventory at the ports.
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