- Reuters
Korea Zinc says it will prioritise domestic sales if production at rival drops
Korea Zinc, the world's biggest producer of zinc, will prioritise domestic sales over exports in the event of any steep drop in South Korean smelting production, a senior executive told Reuters. The question of just how much zinc South Korea will be able to export has become a focal interest for zinc traders after the country's No. 2 producer Young Poong said last month it had cut production at its 400,000 metric ton-per-year Seokpo zinc smelter by a fifth. Sources at zinc raw material suppliers have since said they expect further production cuts from Young Poong, which has long been loss-making and is grappling with low prices and increases in electricity costs.
- Reuters
Korea Zinc agrees 40% fee cut to turn Teck's mined zinc into metal, sources say
Canadian miner Teck Resources has agreed to pay Korea Zinc $165 per metric ton, a three-year low, to turn its zinc concentrate into refined metal, according to two sources familiar with the matter. Known as treatment charges (TCs), the fees paid for converting raw materials into zinc metals fall when mine output decreases as smelters have to compete for concentrate. Korea Zinc declined to comment.
