SHANGHAI, Jul. 21 (SMM) – Domestic zinc concentrate TCs are expected to fall further in the near term due to ore supply tightness, SMM says.
Mines and traders sold actively recently due to high zinc prices, and this helped ease ore tightness some, slowing declines in domestic zinc concentrate TCs, SMM understands. But many domestic zinc smelters are still scrambling for ore against low raw material inventories.
Mines in Hunan’s Huayuan suspended production as local explosive supplies were cut off due to inspections. Beneficiation plants having raw material remain in production, though. When their mining operation will restart is still unsure.
Losses from imported ore expanded 200 yuan to 1,800 yuan per tonne (zinc content) compared with domestic ore this past week, SMM calculates. Most zinc smelters refrained from buying imported goods.
TCs of domestic zinc concentrate (50%) were 4,800-5,100 yuan per tonne (zinc content) this past week. Those for imported zinc concentrate (50%) were $85-110 per dry metric tonne (DMT), with the low-end of $80.
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