Treatment charges for lead concentrates have fallen to their lowest level for two years while terms for zinc concentrates have so far resisted further rises, Fastmarkets has heard.
Fastmarkets' assessment of the
lead spot concentrate TC, low silver, cif China, was $25-40 per tonne on Friday June 25, down from $40-55 per tonne a month previously.
With prices high and demand for lead ingots said to be strengthening globally, smelters and traders were competing for the currently limited tonnages available on the spot market.
Market participants reported smelter purchases of low-silver lead concentrates with TCs in the $30s per tonne, while a spot tender for Black Mountain material was said to have been awarded in the mid-$20s per tonne, with a refining charge for silver of $0.50 per oz.
The assessment for the
lead spot concentrate TC, high silver, cif China, was also trending lower, down by 26.9% over the month to $40-55 per tonne on June 25 from $50-80 per tonne previously.
The last time that terms were at these low levels, there...