Domestic zinc concentrate TCs continued to be weak last week

Domestic zinc concentrate TCs continued to be weak during the week, while imported zinc concentrate TCs remained stable. The recent traded TCs were still around $80/dmt. Due to the stockpiling for Chinese New Year, the overall ore supply was tight. Some smelters have already been under maintenance due to insufficient raw materials. However, the current TCs are close to the cost of smelters, and the import window has reopened, which will increase import volumes. It is expected that there will be limited room for subsequent reductions in TCs.