SHANGHAI, Mar 9 (SMM) - China's refined zinc output stood at 501,400 mt in February, down 9,800 mt or 1.91% MoM and up 4,300 mt or 9.39% YoY, which was basically in line with expectations. Fewer working days in February led to an output cut of about 30,700 mt.
In February, the domestic zinc concentrate TCs stood at 5,500 yuan/mt in metal content and the composite TCs were 7,100 yuan/mt in metal content. The prices of zinc remained above 23,000 yuan/mt, hence the profits of zinc processing was 1,000-2,000 yuan/mt in metal content. Coupled with the soaring prices of domestic minor metals in February, the operating rates of domestic zinc smelters reached full capacity in light of high profits. In addition, the zinc smelters and secondary zinc smelters that were shut down for maintenance and Chinese New Year holiday resumed the production successively, bringing additional increments. In February, most smelters carried out overhauls were based in Guangxi and Hunan.