MYMETAL: China zinc price slips albeit robust consumption
Dec 04, 2019 14:30
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China’s national average price for refined zinc ingot fell further for the fourth week by Yuan 96/tonne ($/t) on week to Yuan 18,647/t including the 13% VAT as of November 29, although zinc consumption in steel galvanizing and zinc alloys stayed steady last week, according to Mymetal, Mysteel’s nonferrous market data collection arm.
“Zinc price has been on a downtrend since mid-September, though the consumption has not been bad at all,” a Shanghai-based industry source observed.
Mysteel’s survey across six major markets in China showed that zinc ingot stocks reduced by 7,100 tonnes or 6% on week to 118,400 tonnes as of November 29,