[Zn] Reserves Plan in Yunnan not Released

SHANGHAI, Dec. 31 (CBI China) -- In the last trading day before the New Year, the market remained quiet with sluggish transactions. But the prices in futures market rose may due to the reserves news and technical operation. Zinc prices rose to RMB 10000/mt and closed at RMB 10250/mt and the dominant contract increased to limit. CBI reported the latest news about the non-ferrous metals reserves launched by Yunnan Economic and Trade Commission on our website in the morning. But the detailed reserves plan has not been published, including the reserves volumes of each enterprises and reserves prices as well as how to pay for the warehousing charges. The relevant director of the targeted zinc smelters said the reserves prices and volumes are non-fixed and will changes based on the market. CBI believes that the reserves details will be clear during the New Year and the Chinese New Year.

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