Last week, the domestic zinc concentrate TCs held stable amid low zinc prices which significant reduced profits at mines and smelters. TCs of imported zinc concentrate were lowered to $170-180/dmt (dry metric tonne).
The current SHFE/LME zinc price ratio stand at a high level of around 8.5, and sellers refrained from selling with discounts for cargoes scheduled for shipments in the third quarter of the year.
Some zinc concentrate from Peru with high copper content was traded with TCs of $150/dmt. TCs of imported zinc concentrate are expected to have further downside room.
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