Lead concentrate TCs surge upward, zinc terms also rise as China arb turns negative
Treatment charges for zinc and lead (TCs) rose in August with the arbitrage to bring material into China switching markedly to a negative value. TCs for lead concentrates in particular rose sharply, to levels not seen in the past two years. The arbitrage loss to bring refined lead into China hit 1,100-2,300 yuan ($154-321) per…