SHANGHAI, Dec. 8 (SMM) - Nyrstar said December 7 it will shut down a mine with zinc concentrate output of 50,000 tpy (zinc content) due to depressed zinc prices. Zinc metal production at the nearby Nyrstar Clarksville smelter will be reduced by about 7 percent, equivalent to 9,000 tpy of zinc production. Will this affect TCs of imported zinc concentrate?
“The output cut at Nyrstar will grow market speculations of concentrate supply tightness overseas, and in turn weigh down TCs of imported zinc concentrate,” said an SMM zinc analyst.
“Cargo holders of imported zinc concentrate hold their quotes firm recently due to anticipation of ore tightness in 2016. They lowered term TCs to as low as $150-160 per dry metric tonne (DMT).” the zinc analyst added.
TCs of imported zinc concentrate are now $170-180 per dry metric tonne (DMT), with the low-end of $165, according to SMM data.
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