SHANGHAI, Nov. 5 (SMM) - TCs of China’s imported zinc concentrate has been sliding recently, down 12% from a peak of $210-220 per dry metric tonne for the year hit in mid-June, SMM says.
“Strong demand from Chinese zinc smelters and ore tightness in South China are behind the drop in TCs of imported zinc concentrate,” said an SMM zinc analyst. High operating rates at zinc smelters this year, combined with higher profit from imported ore compared with domestic ore, led to strong demand for imported goods, in turn weighing on TCs of imported ore.
“Besides, closures at large zinc mines in Q4 and Glencore’s output cut news have also weighed down TCs of imported zinc concentrate to as low as $160-170 per dry metric tonne.”the zinc analyst added.
TCs of imported zinc concentrate (50%) were between $180-200 per dry metric tonne last week, according to SMM data.
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