Zinc prices have been rising over the past three weeks. LME zinc rose to $2,700 per tonne and reached $2,769.5 per tonne. August zinc on the SHFE touched as high as 22,790 yuan per tonne.
Battery producers in Jiangsu hold operating rate above 90% and those in Zhejiang keep operating rate at around 80%.
China Smelters Purchase Team (CSPT) set the third-quarter floor price for the purchase of copper concentrate in the spot market at a meeting on June 29, SMM understands.
Spot zinc premiums in China’s major markets turned to discounts on June 29, SMM data showed.
Environmental protection checks in Zhejiang, due to take place in mid-June, have been postponed to late June and early July.
On June 29, steel market in north China staged exorbitant gains, with billet and strip up 60 yuan, and 60-100 yuan in Tangshan, and up 70 yuan for hot-rolled coil in Tianjin.
SHFE 1708 copper registered largest growth at 1.5% after opening on Thursday.
Recently, the procurement price for high-grade NPI has been rising, Shanghai Metals Market survey finds.
China’s Ministry of Industry & Information Technology (MIIT) brought the country’s major aluminum smelters and CNIA together for a meeting yesterday.
Base metals mostly ended higher on Wednesday’s night trading. On Thursday, eyes should be on sell-off pressures of some products.
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National Bureau of Statistics (NBS) data showed China’s zinc output fell 9.9% on a yearly basis to 481,000 tonnes in May.
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