China's SRB Completes Auction Sales of 50,000 mt of Zinc Ingot

SHANGHAI, Nov. 9 (SMM) -- China's State Reserve Bureau (SRB) completed an auction sale of 50,000 mt of zinc ingot today, with all goods sold up. Purchase prices for "Huxin" brand zinc are the highest, followed by prices for "Nanhua" brand zinc.

According to SMM sources, the reserve price of the auction sale is RMB 18,550/mt, and the highest price and the lowest price are RMB 19,750/mt and RMB 19,150/mt in the auction today, respectively. Prices for "Huxin" brand zinc from Huludao Zinc Industry Company were between RMB 19,500-19,700/mt, with goods stockpiled in Liaoning province, while prices for "Hongye" brand zinc from Chifeng NFC Kumba Hongye Zinc Smelting Company were between RMB 19,150-19,200/mt, with goods stockpiled in Liaoning province. Prices for "Yinxin" brand zinc from Yunnan Chihong Zinc and Germanium Company were around RMB 19,600/mt, with goods stockpiled in Jiangxi, Guangxi, and Yunnan provinces, while prices for "Ibis" brand zinc from Baiyin Nonferrous Group were around RMB 19,500/mt, with goods stockpiled in Jiangxi, Shaanxi, and Ningxia provinces. Prices for "Nanhua" brand zinc from Shenzhen Zhongjin Lingnan Nonfemet Company were between RMB 19,600-19,700/mt, with goods stockpiled in Guangxi province, while prices for "Shuangyan" brand zinc from Hanzhong Bayi Zinc Industry Company were around RMB 19,600/mt, with goods stockpiled in Shaanxi province.

Less than 40 enterprises attended the auction, with most deals made by traders.  

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