SHANGHAI, Sept. 11 (SMM) – TCs for Chinese lead concentrate increased to 2,500 yuan per tonne (Pb content) this week, SMM noted.
Mainstream TCs were 2,100-2,500 yuan per tonne (Pb content) for domestic concentrate in this past week.
Large lead smelters in many regions, including Henan and Hunan, quoted concentrate TCs as high as 2,500 yuan per tonne (Pb content) this week. Small smelters asked for lower TCs at 2,000 yuan per tonne (Pb content) on the condition that smelters will not pay more money to mines even the lead ore grade higher than benchmark grade.
On the other hand, mounting inventories forced mines to ship goods out despite the large growth in TCs. This supported smelters to ask for higher TCs. With the jump in TCs, traders held a wait-and-see attitude. Some mines in Tibet were closing for a week in celebration of the 50th anniversary of the founding of the Tibet Autonomous Region.
TCs for domestic lead concentrate (Pb 50%) are expected to stay stable following the large growth in near future, SMM predicts.
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