China Nonferrous Metals News
11th February, the first trading day after the Chinese New Year Holiday, zinc futures prices at SHFE fell rapidly by RMB 695/t or 3.12% from the previous point, closing at RMB 21,610/t. As of 11th February, domestic zinc inventory (zinc ingots) was 189.6 kt, an increase of 50.9 kt from 4th February. The high growth over the same period of the previous year indicates that domestic zinc smelters are resilient. At present, overall zinc supply in both global and domestic markets is relatively low which is likely to prop prices in the short-term. Consequently, zinc futures prices at SHFE are expected to be volatile.
