MYSTEEL: China's zinc price impacted by resurging pandemic

China's national average price of primary zinc (at least 99.995%) under Mysteel's assessment rebounded last week, gaining Yuan 642/tonne ($95.7/t) or 2.8% on week to reach Yuan 23,976/t including the 13% VAT as of July 8. The price retreated slightly over the weekend though, easing by Yuan 98/t to reach Yuan 23,878/t as of Monday July 11.

Last week, hundreds of new COVID-19 cases appeared across China, prompting many city governments to introduce traffic restrictions aimed at curbing the spread of the virus but also hindering deliveries of goods, Mysteel Global noted. "The resurgence of the pandemic triggered concerns among market participants, dampening their expectations for a