Domestic Zinc Concentrate TCs Remained Stable

Last week, the domestic zinc concentrate TCs remained stable, and the current domestic ore supply is relatively stable. Due to the continuous rise in the SHFE/LME zinc price ratio, the profits of imported ores are high. There will be large inflow of imported ore in the near term.

However, TCs offered by traders were $180-200/dmt, leaving low import profit. The supply of zinc ore in Yunnan is still relatively tight, and the local TCs were 4,800-5,100 yuan/mt (ex-mines) with metal content. The market inquiry was still relatively active, and TCs were 4,500-4,700 yuan/mt with metal content on a delivery to factory basis.