MYMETAL: China zinc price falls from 22-month high
Mar 03, 2021 19:30
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China’s national price of zinc ingot (grading at least 99.995%) declined from a 22-month high of Yuan 22,364/tonne ($3,462/t) on February 22 to reach Yuan 21,640/t as of March 2, as the market responded to concerns about inflation and tightening monetary policies in the United States.
At one point last Thursday, the benchmark ten-year Treasury yield touched 1.61%, a recent year high and triggered market worries about inflation. Market speculative activities cooled as a result, and base metals such as zinc that are closely linked to the physical economy and industrial use saw their prices decline,