MYMETAL: China’s zinc price rises to 1-month high

Source: Mysteel Oct 28, 2020 17:30

China’s national price of zinc ingot with 99.995% purity assessed by Mymetal rose by a total of Yuan 606/tonne ($90.4/t) on week to reach one-month high of Yuan 20,270/t including the 13% VAT as of last Friday, mainly following the increase in dollar-based zinc metal prices following the recent devaluation of the US dollar, according to Mymetal’s latest market report. Mymetal is Mysteel’s market intelligence service for non-ferrous products.

The 3-month zinc futures contract on the London Metal Exchange closed at $2,546/t when trading ended on October 23, up $111.5/t from the settlement price a week earlier, Mysteel Global noted. The US dollar had decreased fast last week, with the Yuan-dollar rate on October 21 reaching Yuan 6.65

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