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China's May spot zinc treatment charges flat on month at USD 15 to USD 25/ million tonne-2018 C
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5/11/2018 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo- |
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Platts reported that spot zinc treatment charges for Chinese smelters are unchanged in May from the month before at USD 15 to USD 25/ million tonne. Chinese industry sources said this is higher than in January, when TCs averaged USD 10/ million ton as heavy snow halted zinc mining in Tibet, Inner Mongolia and Xinjiang, cutting supply to smelters.
Zinc producer Jiangxi Copper in its May zinc report said there were imported zinc concentrate deals done at USD 15-USD 25 million ton for the month, stable from April. Zinc mines in China were likely to hike output in May amid milder weather, but domestic smelters held low concentrate stocks, Jiangxi added.
Guangzhou based brokerage Huatai Futures in its May zinc report said the 2018 zinc TC benchmark settled by miner Teck Resources and smelter Korea Zinc at USD 147/ million tonne this month was well below the USD 172/ million tonne settlement for 2017.
The commissioning of new zinc mines overseas was expected to peak in the second half of 2018, indicating global mined zinc supply would rise, it added.
TCs, the fees paid to smelters by mines for converting concentrates into zinc ingot, are a key source of revenue for smelters.
State run metals consultancy Beijing Antaike has forecast China to consume 5.798 million tonne of mined zinc in 2018, up from estimated consumption of 5.638 million tonne in 2017.
Domestic mined zinc output in 2018 is seen at 4.45 million tonne, up from estimated output of 4.3 million in 2017, Antaike data showed.
Antaike estimated China''s mined zinc deficit at 48,000 million tonne in 2018, narrowing from a deficit of 88,000 million tonne last year, with net zinc concentrate imports seen at 1.3 million tonne, edging up from 1.25 million tonne last year.
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