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| Commodity News |
| HeadLine : |
China zinc treatment charges fall for first time in two years |
| Date : |
Mar 4 2020 |
The charges - paid by miners to smelters to process zinc concentrate into refined metal - fell to $300 a tonne on March 2, down from an 11-year high of $305 a tonne. The last time TCs dropped was on March 12, 2018, to just $15 a tonne. They have risen since then as abundant mine supply overwhelmed limited zinc smelting capacity. Canadian miner Teck Resources and smelter Korea Zinc Inc have yet to announce a settlement on a TC benchmark for 2020. China is the world’s biggest consumer of zinc, a metal used to galvanize steel; its mines are under cost pressure at current zinc prices, research house Antaike said on Monday, raising the prospect of production cuts. Three-month zinc on the London Metal Exchange sank to $1,970 a tonne on Friday, its lowest since June 2016, as weak demand amid the coronavirus outbreak pushes inventories higher. However, prices have rebounded somewhat since then and risen 0.7% to $2,038 on Tuesday.
Source : CNBC
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