Here’s why the New Century Resources (ASX:NCZ) share price has rocketed 12% today

heres why the new century resources asxncz share price has rocketed 12 today

Sumary of Here’s why the New Century Resources (ASX:NCZ) share price has rocketed 12% today:

  • Home / Sector / Resources Shares / Here why the New Century Resources (ASX:NCZ) share price has rocketed 12% today The New Century Resources Ltd (ASX:.
  • NCZ) share price is rising rapidly today after the company revealed the benchmark treatment charge for zinc concentrate has been significantly lowered this year..
  • New Century Resources Ltd is an Australian-based mineral exploration and development company spread across Australia and the United States of America..
  • New Century Resources zinc pricing The New Century Resources share price is jumping on news that the company will benefit from a lowered 2021 zinc concentrate benchmark treatment charge at US$159/t..
  • The current price is a 47% reduction from the 2020 benchmark of US$299.75/t and New Century Resources says the reduction will “provide significant economic tailwinds for the operations in 2021”..
  • The pressure on supply is resulting from prolonged coronavirus related supply interruptions against strong metal demand in China..
  • The zinc concentrate benchmark is a base-level price on the mineral that negotiated annually between industry heavyweights Teck Resources Limited and Korea Zinc Co..
  • It traditionally forms the basis for the pricing of zinc concentrate smelting contracts between other miners and smelters globally..
  • In 2021, approximately 85% of New Resource Century zinc concentrate shipments are anticipated to occur against contracts linked to the annual benchmark TC of US$159/t..
  • The 2021 benchmark price is retrospectively applied from 1st January 2021, resulting in New Century receiving back-payment for shipments issued at higher prices during 2021..
  • New Century Resources share price snapshot From a value of 17 cents per share in April 2020, it rose to 24 cents by May 19, fell to 11 cents by September, rose to 26 cents by January 2021 and is now at 18 cents…

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