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MYMETAL: China’s zinc prices tumble again, stocks swell

China’s zinc ingot prices are at their lowest level since the summer of 2016 while stocks at both zinc smelters and retail warehouses are at multi-year highs due to sluggish demand amid China’s fight against the novel coronavirus disease (COVID-19), Mymetal’s latest surveys published on February 24 showed. Mymetal is Mysteel’s non-ferrous data collection arm.
As of February 24, China’s national average benchmark price for zinc ingot (≥99.995%) was Yuan 17,081/tonne ($2,440/t) including the 13% VAT, a new low since July 8 2016 after the price had declined by another Yuan 358/t on week, according to Mymetal’s data tracker. Meanwhile, zinc ingot stocks in major six

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