SHANGHAI, Jul. 10 (SMM) – Lead concentrate imports continue to flow into domestic market as they can bring more profits, SMM learns.
Though profits for imports narrowed 100 yuan per tonne (Pb content) to about 1,100 yuan per tonne (Pb content) this week, they are still more profitable than domestic materials, boding well for imports.
SMM survey shows that Mengzi Mining & Metallurgy recovered production this week, but most mines in Honghe Hani and Yi Autonomous Prefecture are still closed. More mines in Liangshan Yi Autonomous Prefecture resumed operation, driving supply up in Sichuan. But some ore suppliers held back sales due to soft silver and lead prices.
Mainstream TCs for domestic concentrate (Pb 50%) were 1,800-2,000 yuan per tonne (Pb content) this week. TCs for imported concentrate (Pb 60%, Ag < 1,000 g) quoted $175-190 per dry metric tonne.
Growing imports and anemic silver and lead prices are expected to hike domestic material TCs modestly in near term.
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