UPDATE 1-Nyrstar Says Zinc Production Falls in Q3-Shanghai Metals Market

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UPDATE 1-Nyrstar Says Zinc Production Falls in Q3

Industry News 05:06:35PM Oct 27, 2010 Source:SMM

BRUSSELS, Oct. 27 -- Belgium's Nyrstar (NYR.BR: Quote), the world's biggest producer of zinc, said on Wednesday that zinc metal production was down 3 percent in the third quarter because of operational issues at its Balen smelter.

Production was 256,000 tonnes compared with 265,000 in the same period last year.

Analysts at ING, who have a "buy" recommendation on the stock, expected production of 268,000 metric tonnes.

The group said the average zinc price was higher than last year at $2,030/tonne but had been partially offset by a weaker dollar.

Nyrstar said operations at the Coricancha Mine in Peru resumed after being suspended since May 2008, while full production is expected at its Tennessee mines by the end of the year.

 

 

UPDATE 1-Nyrstar Says Zinc Production Falls in Q3

Industry News 05:06:35PM Oct 27, 2010 Source:SMM

BRUSSELS, Oct. 27 -- Belgium's Nyrstar (NYR.BR: Quote), the world's biggest producer of zinc, said on Wednesday that zinc metal production was down 3 percent in the third quarter because of operational issues at its Balen smelter.

Production was 256,000 tonnes compared with 265,000 in the same period last year.

Analysts at ING, who have a "buy" recommendation on the stock, expected production of 268,000 metric tonnes.

The group said the average zinc price was higher than last year at $2,030/tonne but had been partially offset by a weaker dollar.

Nyrstar said operations at the Coricancha Mine in Peru resumed after being suspended since May 2008, while full production is expected at its Tennessee mines by the end of the year.