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Teck Resources has agreed to supply China’s largest zinc smelter with zinc concentrates from its Red Dog mine this year, diversifying the market for what is one of the world’s biggest exporters of the metal.
Australia expects the iron ore price to stay above $100 per tonne until late 2021 – instead of mid-2021 as it said in a previous report – and decrease to $72 per tonne by the end of 2026.
Apart from aluminium, base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were firmer this morning, Tuesday March 30, with broader markets also firmer having partially shook off, for now, contagion worries from last week’s hedge fund troubles.
The 2021 annual benchmark negotiations for lead and zinc concentrate treatment charges (TCs) continue, with aggressive bids and offers reportedly being pushed by major miners and smelters.
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