Lead concentrate TCs fell slightly, quotations at smelters and mines diverged

SHANGHAI, Aug 3 (SMM) - Lead concentrate TCs fell slightly and the average concentrate inventory level of smelters has not changed significantly.

A few number of smelters in north China said that they are likely to implement maintenance at the end of August. The mainstream lead concentrate quotation range stood at 1,000-1,300 yuan/mt, and the lowest quotation at 800-1,000 yuan/mt in Yunnan. High-silver concentrates gained popularity in the market.

Supply of lead concentrate maintains tight balance in August. The excessive lead concentrate caused by the flooding in the German lead smelters may flow into China, but there was no significant change in TCs for imported concentrate. There are no obvious signs of import in the near future. Profits at smelters shrank, which held prices firm. According to SMM survey, the market will not reduce production due to insufficient concentrate.