SHANGHAI, Jun 28 (SMM) – A group of Chinese zinc smelters have agreed to raise zinc concentrate treatment charges (TCs) and planned to cut production by 10% in a meeting in Shaanxi province on Thursday June 28, SMM learned.

The meeting was held against the backdrop of low TCs and falling zinc prices since the start of this year, which ate into smelters’ profits. A widening profit gap between domestic mines and smelters was also of concern.

However, specific measures on raising TCs and cutting output remained to be carved out in more group meetings in the future, SMM learned.

Domestic zinc concentrate TCs averaged 3,500 yuan/mt as of June 28, compared with 4,050 yuan/mt this time last year. TCs for imported concentrate stood at $32.5/mt currently, down from $57.5/mt a year ago, SMM data showed.