TCs if Imported Lead Concentrate Rebound Slightly amid Slight Increase iin SHFE/LME Price Ratio

SHANGHAI, Feb 27 (SMM) - As of February 24, the inventory of lead concentrates at Lianyungang port stood at 13,000 mt, flat from the previous week. According to SMM research, affected by low SHFE/LME price ratio and tight supply, the imports were sluggish and the arrivals of imported lead concentrate may decline further in February.

In the domestic market, the number of quotations for lead concentrate TCs increased amid improving market supply. Some smelters in Henan and Inner Mongolia with sufficient stocks had no purchase demand. The TCs in other regions remained stable compared with the previous week. According to SMM research, a small number of mines in Inner Mongolia and Yunnan slightly lowered their TCs of lead concentrate. But the moderate inventory level of smelters kept the TCs for lead concentrate (with rich content of precious metals) at 1,000-1,300 yuan/mt. In terms of imported lead concentrate, as the SHFE/LME price ratio rebounded slightly, TCs rose to $40-60/mt. But the transactions were thin.