WEEKLY: Weak fundamentals drag China's zinc prices

Chinese prices of refined zinc weakened over June 21-27, partly as business slowed for China's Dragon Boat Festival holiday over June 22-24. But market sentiment also turned bearish during the period because the supply and demand of the metal remained unbalanced, market sources observed.

As of June 27, the country's national average price of refined zinc ingot (at least 99.995%) under Mysteel's assessment stood at Yuan 20,329/tonne ($2,813/t) including the 13% VAT, lower by Yuan 214/t from June 20. The US Federal Reserve's firm stance regarding interest rates – that these need to be