Comment by
rjb1954 on Nov 25, 2020 11:16am
Where do you think Glencore is declaring this $200/tonne windfall? Glencore Canada? ... or Glencore Switzerland? Would this be visible from Glencore's financial statements?
Comment by
Finalsay on Nov 26, 2020 3:05pm
I missed a previous post that quoted a TD research report mentioning the $300 benchmark prices. It sounds like this benchmark is set at the beginning of the year and I now understand the huge discrpenacy in benchmark and spot prices.
Comment by
ZincDink1 on Nov 27, 2020 2:40pm
KoreaZinc and Teck set a bench mark, however, in China, the bench mark can move around a bit. It dosen't move as aggressively as the spot TC. Off the top of my head, in March, they were all about 300, now China TC is about 200 and spot is 100.
Comment by
Paykel2 on Nov 26, 2020 4:23pm
In Trevali's press release reporting 3rdQ financial results, they state that the benchmark treatment charges are $300/t and that Trevali's concentrate-of-take agreements reference the annual benchmark treatment charges. On page 14 of Trevali's MD&A for the 3rdQ, they breakout the smelting and refining expenses.
Comment by
Finalsay on Nov 27, 2020 8:53am
Thanks Paykel - I looked more into it last night and found out that Korea Zinc Co. Ltd and Teck Resources Ltd. set benchmark TCs each year.