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Canadian miner Teck Resources and smelter Korea Zinc have reportedly agreed zinc concentrate treatment charges (TCs) for 2020 supply at $299.75/dmt, the highest since 2008.
The deal, which has zero price participation, marks a substantial increase from $245/dmt for 2019. The two major players in the metals sector had been widely expected to set annual zinc concentrate TC for 2020 at $300/dmt.
Spot TCs in China have declined as imports dwindled amid the coronavirus outbreak outside China and as Chinese mines trimmed production due to squeezed profits.