Ann: CENTURY OPERATIONS AGAIN DELIVER RECORD METAL PRODUCTION, page-94

Too bad NCZ doesn’t sell their concentrates domestically in China. Importers of zinc concentrates or metal face $200/mt loss for every zinc metal unit at present. This from Fastmarkets:

Bringing in LME priced zinc units. Any domestically priced units in China have this advantage over importers so there may be scope for smelters to drop the TC for domestic units without a corresponding drop in imported concentrate TCs.

That all said there may be some small drop (~10%) in TCs just on potential smelter restocking. Remains to be seen.