Zinc and lead concentrate treatment charges (TCs) rose in March, reflecting expectations of better supply and fewer smelter shorts in the market.
Concluded deals were few and far between, with much of the market waiting for annual contract reference prices to settle before delving into the spot market.Both zinc and lead concentrate markets are in the process of turning away from super-tight conditions after supply from major new project ramp-ups and small-scale brownfield restarts began to arrive."This month is pretty much the tightest market in a decade, but TCs will go up in the next few months and fast," a concentrates trader told Metal Bulletin.Metal Bulletin assessed zinc TCs in the cif Asia market at $15-35 per tonne this month, up $5 from an assessed range of $10-30 per tonne in February. Smelters there were largely bidding at $40-50 per tonne, but concentrates deals as low as $15 per tonne were heard.Many...