FastMarkets on zinc TCs and North Korean zinc
22nd September, 2016 8:28 PM by Tom Jennemann
A round-up of the top FastMarkets stories from September 22.
Base metals ended Thursday LME trading in positive territory – most hit multi-week highs today thanks to a weaker dollar after the US Federal Open Committee (FOMC) stood pat.
Chinese zinc smelters are increasingly turning towards North Korea as a source of concentrates supply rather than traditional overseas partners while treatment charges (TCs) in the international market remain soft, market observers claimed.
Several members of ICBC Standard Bank’s base metals team have left the company, including head of trading Mark Thompson, sources told Metal Bulletin.
Treatment charges (TCs) for zinc and lead concentrate have dropped below $100 per tonne for the first time in several years, as some smelters finally accepted lower terms for spot purchases in light of tightening supply.
Attendees at the FOW Trading conference here cast doubts on China’s ability to open up its commodities futures markets to overseas participants any time soon.
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