Teck signs zinc benchmark deals at $159/t with Glencore, Korea Zinc
Image: Teck Resources’ Red Dog mine in northwest Alaska.
Teck Resources and its smelter customers Glencore and Korea Zinc have nearly halved treatment and refining charges (TC/RCs) in a deal for 2021 to $159 per tonne due to tight mine supply, Fastmarkets reported.
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The companies are major players in the metals sector, and Teck and Korea Zinc’s agreement on yearly processing charges, that miners pay smelters, often establishes a benchmark widely used throughout the industry.
Fastmarkets reported that the deals, which are 46% lower than the near $300 a tonne set last year, were concluded last week and will be for supply from Teck’s Red Dog mine in Alaska.
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Anti-dumping investigation could lead to higher costs for European steelmakers – report
In the electric arc furnace process, the cold metallic charge, mainly scrap, is melted by the energy of electric arcs generated between the tips of graphite electrodes and the conductive metallic charge.
(Image by Stephane Gaudry, Wikimedia Commons).
European steelmakers using electric arc furnaces (EAFs) could see higher costs in their production lines as a result of a recent skirmish between Chinese exporters of synthetic graphite electrodes and Europe-based manufacturers.
Around 41% of European (EU27+UK) crude steel is produced via EAFs, which allow for greater use of recycled scrap steel products and which require the use of synthetic graphite electrodes that cannot be substituted with other types of lower performance carbon electrodes.