MYMETAL: Loose supply pressures China’s zinc ingot price
Oct 21, 2020 09:30
China’s national price of zinc ingot with 99.995% purity assessed by Mymetal reversed down by Yuan 207/tonne ($31/t) on week to Yuan 19,664/t as of October 16, as increasing supply against lukewarm demand is imposing downward pressure on prices, according to Mymetal’s latest weekly report. Mymetal is Mysteel’s market intelligence of non-ferrous products.
In September, zinc ingot production across the 41 major zinc smelters in China which Mymetal monitors totalled 454,100 tonnes, up by a large 37,900 tonnes or 9% on month to reach a new monthly high for the year, according to Mymetal’s survey published on October 13. Unsurprisingly, the capacity utilization