SHANGHAI, Jan. 15 (SMM) - TCs of domestic zinc concentrate (50%) were stable at 5,300-5,500 yuan per tonne (zinc content) this past week, and those for imported zinc concentrate (50%) fell further to $140-160 per dry metric tonne (DMT), with $ 120-130 for some goods for future delivery,according to SMM data.
Profit from imported ore narrowed 130 yuan to 80 yuan per tonne (zinc content) above domestic ore, SMM calculates. Trading for imported ore was limited on lower TCs and nearing of the Chinese New Year holiday.
SMM understands some large zinc smelters in South China are actively buying domestic ore. Production at most mines remaining in operation is now steady, and some mines having sufficient capital hold back goods.
TCs of domestic zinc concentrate should remain stable in the near term, says an SMM zinc analyst, citing sloppy trading ahead of the holiday.
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