Zhongjin Lingnan Zinc Smelter to Move into Maintenance

On the one hand, Teck Resources has signed an annual zinc concentrate contract with a 45% increase in TCs to $230/dmt. An escalation clause was included: if the prices of zinc exceed $3,800/mt, TCs will rise by $0.05/mt for every $1/mt increase in the prices of LME zinc, but if the zinc prices fall, TCs will remain unchanged (the same as the 20%/80% price sharing scheme in China).

Total zinc ingots inventories across seven major markets in China stood at 278,000 mt as of April 8, up 5,200 mt from April 1, down 300 mt from March 6. Domestic inventories increased.

SMM data showed that China's refined zinc output stood at 508,900 mt in August, down 1.22% on the month and 0.04% on the year. Output from January to August was 4.04 million mt, a year-on-year increase of 4.47%. Alloy output at domestic refined zinc smelters in SMM’s survey sample registered 75,500 mt in August, up 80 mt on the month.

The maintenance starts from Nov 15

Traders continued to lower offers in China’s spot zinc market on Thursday May 10 as supply of imported zinc increased, SMM learned.

In China's spot zinc market on Wednesday May 9, smelters continued to lower offers after thinner transactions from the previous day

Rizhao Steel in Shandong province is putting one of its hot-rolled coil production lines in maintenance for 18 days from May 27, SMM learned.

Jiangsu Shente Steel plans to extend its maintenance of a 450m³ furnace by 10 days after April 30, when the maintenance was originally set to complete. About 2,000 mt daily output of molten iron will

Jiujiang Pinggang Iron and Steel has put one of its 1,780m³ blast furnace in maintenance on Monday April 16, SMM learned.

SHFE zinc tumbled during the day and touched a low at 23,605 yuan/mt on Thursday April 12 despite better fundamentals since the start of this month.