In copper, Chile's state-owned producer Codelco halted part of its operation at the El Teniente mine
following an accident on Sunday June 2. Separately, Aurubis has entered into a long-term supply contract
with Teck Resources to source concentrates over a 10-year period from the second phase of Teck’s Quebrada Blanca (QB2) open-pit project in the Tarapacá Region of Chile, Fastmarkets learned.
The lead import arbitrage in China reopened in May
, causing lead concentrate imports to rise and treatment charges to tumble, while spot terms for zinc concentrates stabilized.
After briefly stabilizing at a recent high of $16.35-17.05 per lb following a rise since late March, the standard-grade cobalt benchmark price started to retreat
in mid-May amid slowing consumer demand and sellers’ profit-taking.
China's domestic antimony price fell for a fourth consecutive week
after some domestic suppliers lowered prices further to spark buying interest.
Seaborne and port prices for low-grade manganese ore weakened
during the week to May 31, with inventories reaching a new record high amid poor demand.