Despite some deals being struck in January, and further ones being agreed at the very beginning of the annual meeting of the AZA in late February, terms for a significant number of annual zinc concentrate supply contracts have yet to be settled. Furthermore, neither miners nor smelters with business still to agree appear willing to change their stand. Details of terms for the contracts agreed to date have continued to circulate and the variety (three principle ones) is indicative of the fact that few deals are exactly the same. Some terms struck at, or since, the AZA meeting have been the same as those agreed in Europe in January, i.e. 300 dollars /t basis 3,500 dollars /t +10 percent /-5 percent. Some Japanese smelters are understood to have agreed to these terms, although most smelters in Asia are said generally to prefer the terms incorporating a TC with no price participation in a specified price range. A 3,000-3,750 dollars /t range has been most commonly quoted, but several other ranges have also been mentioned. Further talks are scheduled in the near future, but we have got no impression that these will result in agreements at any time soon.
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