SHANGHAI, Aug. 14 (SMM) – Chinese lead concentrate TCs are predicted to grow further for near term, Shanghai Metals Market reckons.
Domestic large lead smelters are sitting on large inventories of lead concentrate. Lead smelters favor high grade lead-silver ore. Consequently, some ore suppliers registered troubles in selling. Those factors lend support to concentrate TCs.
Lead smelters’ passion in importing concentrate is cited as another reason for a rise in concentrate TCs. Depreciation of Chinese yuan cuts profits for concentrate imports, but rally in SMM/LME lead price ratio still helps open window for imports.
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