Having straggled to progress, negotiations of terms for this year's lead concentrate supply contracts have now resulted in a number of major settlements that should pave the way for outstanding business to be settled shortly. Two main sets of terms have been agreed, and although they are broadly in line (roughly a roll over from last year), they have significant differences at different prices. Smelters have agreed terms for Cannington's lead concentrate at 14914 dollars/t basis 750 dollars/t with escalators (both ways) at 5 percent. Terms last year were 124 dollars/2/t basis 500 dollars/t with escalators (both ways) of 10 percent. Meanwhile, smelters have made other deals, including for Red Dog's lead concentrate, in the mid to high 140 dollars basis 850 dollars/t and with escalators of 10 percent. The two sets of terms give similar outturn treatment charges at around current prices.
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