There has been little activity in the zinc concentrates market in Europe in recent weeks with many players away on holiday. However some material has been offered by traders, including some spare Brunswick concentrates, and deals have been concluded in the mid to high 120s dollars/t cif Antwerp. We understand that a number of European smelters were a bit tight during August but managed without having to purchase spot tonnages and now are breathing a sigh of relief as the first shipment of Red Dog material has arrived in Europe. So far all Red Dog shipments have been on schedule. In general the market in Europe is pretty tight although some traders are believed to have material available and there are also some stocks at Callao waiting shipment. There has been more activity in Asia. The Chinese are still actively looking for material, and Korea Zinc has also been in the market. Terms are still in the mid 90s dollars/t cif local port. There are, as yet, no signs that the credit squeeze in China is affecting purchases of zinc concentrates, but future purchases may well be reduced.
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