MYSTEEL: China's zinc price drops to 6-week low

China's national average price of zinc ingot (at least 99.995%) under Mysteel's assessment continued trend downward last week to hit Yuan 25,616/tonne ($3,784.8/t) EXW including the 13% VAT as of May 13, a new low since March 23. The price kept falling as transactions were lackluster amid weak supply and demand, Mysteel's survey showed.

Although production of end-use Zn products such as galvanized steel and copper-zinc alloy had showed signs of marginal recovery from the impact of COVID-19 pandemic last week, the consumption of zinc ingot was still sluggish, according to a market analyst based in Shanghai. The users were less willing to purchase