Zinc concentrate TCs trade lower in January as market slows on coronavirus lockdown

Zinc and lead concentrate treatment charges (TCs) declined in January amid illiquid market conditions, with the Chinese Lunar New Year limiting trade and concerns building that the effects of coronavirus will cap market demand.

Fastmarkets' assessment of zinc concentrate TC, cif China, dropped to $285-310 per tonne on January 31, from a multi-year high of $285-315 per tonne the month prior.
January saw Europe slowly returning to the market at the beginning of the month after the Christmas break, and Chinese smelters locked down towards the latter half of the month on Lunar New Year, then novel coronavirus reasons.
Market liquidity has been accordingly low, with spot business seasonally weak at this time ahead of the IZA conference in Arizona, United States.
"Right now the market is very quiet and with the virus in place, it's a bit difficult to assess how long the muteness will persist," a trading source told Fastmarkets.

Mining companies, which had to delay cargoes for logistics reasons last year, have carry-over tonnes heading to customers in January, but others are holding onto stocks...

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