January Zinc Concentrate TC Negotiation Peak: Weekly Zinc Concentrate TCs Continue to Rise [SMM Zinc Concentrates Weekly Review]

SMM, January 3: This week, domestic zinc concentrate TCs increased. Specifically, the weekly average TC for SMM Zn50 domestic ore rose by 100 yuan/mt (metal content) MoM to 1,950 yuan/mt (metal content), while the weekly average TC for SMM Zn50 imported ore remained flat at -$20/dmt. By region, TCs increased by 50-200 yuan/mt across various areas this week, with Inner Mongolia and north-east China maintaining relatively high levels nationwide. In the spot market, this week marked the peak negotiation period for January zinc concentrate TCs. Domestic TCs in several regions rose by 350-400 yuan/mt MoM compared to December, showing a significant increase. For imported ore, although recent zinc ore quotes at ports have risen to around 2,200 yuan/mt, smelters still exhibited some caution toward imported ore, with overall procurement leaning toward domestic ore. Supply side, the continuous arrival of imported zinc ore at ports recently has further improved spot market liquidity. Additionally, the raw material inventory days at domestic smelters rebounded to approximately 27 days in December, reaching typical historical levels. This alleviated raw material pressure significantly, supporting the upward trend in domestic zinc concentrate TCs. This week, SMM zinc concentrate inventory at China's main ports totaled 342,300 mt, up by 42,300 mt WoW, reflecting a notable increase in overall inventory. 》Subscribe to view SMM historical spot metal prices