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.
