SHANGHAI, Jun. 10 (SMM) – 46% of Chinese zinc smelters are cautious toward zinc price trends this week, Shanghai Metals Market survey found.
41 major domestic zinc smelters are included in the SMM survey, with capacity totaling 5.69 million tonnes, 120,000 tonnes of which is idle.
36% of surveyed producers are bearish due to weak demand and growing supply, resulting from tight liquidity.
The remaining 18%, however, are optimistic. Their optimism mainly come from the decision by China’s State Council to announce a targeted RRR cut and falling zinc inventories, according to the survey.