SHANGHAI, Oct 17 (SMM) - In October, smelters replenished their inventories with a large amount of imported ore and thus had stronger bargaining power over mines. At the same time, the surge in SHFE/LME zinc price ratio made it highly profitable to purchase imported concentrate on the back of sufficient supply. Attracted by the large amount of imported concentrate with lower prices, traders provided offers in Chinese yuan, which stood at 5,000-5,100 yuan/mt in mental content (pick up at the seller's). Therefore, smelters also displayed strong interests in purchasing imported ore. As a result, the domestic TCs kept rising and moved closer to those for imported concentrate.
TCs of Zinc Concentrates Continued to Swell as Smelters had Sufficient Raw Material Stocks
- Oct 17, 2022, at 9:56 am
- SMM
In October, smelters replenished their inventories with a large amount of imported ore and thus had stronger bargaining power over mines.
