[Minor metal] SMM Forecast - Domestic Cobalt Market

SHANGHAI, Aug. 14 (SMM) -- National Bureau of Statistics announced on August 11th that domestic output of zinc concentrate was 267.4kt during July, down 15.8% MoM, and YTD output was 1.51 million mt, down 12.8% YoY. Although zinc concentrate production has resumed, the output still reported declines on a monthly basis for several reasons. A portion of ore operators in central China, south China and Southwest regions processed all their existing raw ore inventories, their production experienced stoppages again, as the grade of newly-exploited raw ore was low. However, zinc concentrate production will resume and the output will increase as well, when zinc prices report enough increases to help ore dressing companies enjoy profits.
&nbsp;&nbsp;&nbsp; This week, TC of domestic zinc concentrate with grade of 48-53% was RMB 5,000-5,800/mt, with TC level of RMB 4,800/mt appearing in limited regions. TC of imported zinc concentrate remained in the USD 155-165/mt range.
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