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China Zinc Concentrate Production Grows Slower in Aug

Metal News - Published on Mon, 16 Sep 2019

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SMM reported that production of zinc concentrate in China inched up 0.8% from a month ago but declined 7.3% from a year ago to 359,900 tonne in Zn content in August. Operating rates across Chinese zinc mines came in at 78.7% last month, up 0.6 percentage point month on month but down 6.2 percentage points year on year. The recovery from maintenance at some medium-sized and large mines contributed to the production increase, but the growth was capped by a cocktail of factors including new maintenance, mineral resource depletion and degradation, environmental restrictions, and expiration of mining permits or safe production licenses.

Narrower profit margins also deterred production from substantially expanding. Shanghai zinc prices hovered below the 19,000 yuan/mt level for much of last month, and this, together with firm treatment charges, squeezed margins across zinc miners.

While smelters remained in high gear, an oversupplied market, high raw material stocks at smelters and the competition from seaborne materials kept domestic miners from brining TCs down.

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Posted By : Rabi Wangkhem on Mon, 16 Sep 2019
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