Dec 27–
A total of 354,100 mt of seaborne zinc concentrate entered
While Chinese zinc smelters moved up a gear to chase profits, limited supply of domestic zinc concentrate amid production cuts and suspension of miners drove smelters to overseas suppliers.
Logistics disruption in north
Import arbitrage window opened in the second half of November as import losses narrowed from an average above 1,000 yuan/mt in the first half of the month. This triggered the inflow of imported zinc concentrate to
Sufficient supplies of zinc concentrate overseas lifted the treatment charges, which improved margins at domestic smelters. The charges are paid by zinc miners to smelters to process ore into refined metal.
SMM assessed that TCs for imported zinc concentrate climbed from $290-300/dmt at end October to $310-330/dmt by mid-November, with TCs for cargoes with inferior quality standing as high as $350/mt.
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