首页|Zinc price weakness to lead to further mine cutbacks
Zinc price weakness to lead to further mine cutbacks
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NSTL
Irish miner Arcon International Resources said that the ongoing weakness in zinc prices is likely to lead to a further reduction in global mine supply, which is expected to lead to further smelter cutbacks due to the shortage of concentrates. A significant shortfall of zinc concentrates is leading to smelter cutbacks, with China having announced smelter reductions of 210,000 metric tons, company chairman Tony O'Reilly Junior added. "The shortfall of concentrates continues to underpin significantly reduced smelter treatment charges, or TCs, to Arcon's benefit," said company chairman Tony O'Reilly Junior. "Underlying consumption for zinc in Asia continues to grow which, combined with smelter cutbacks, is likely to lead to a substantial rebound in prices in the forthcoming months," O'Reilly Junior added. According to O'Reilly Junior, until the anticipated strengthening of commodity prices occurs, Arcon will reduce un it operating costs through the expansion of its milling capacity, which will result in Arcon being well positioned to capitalize on higher zinc prices.
NSTL
