[Zn Output] China Refined Zinc Output in May Hit New High for the Year

SHANGHAI, Jun. 25 (SMM) - China’s refined zinc output in May was 532,000 tonnes, up 15.3% YoY and 1.9% MoM to hit a new high for the year, data from the China Nonferrous Metals Industry Association (CNIA) show.

"Higher zinc prices are believed to have boosted zinc output”, SMM zinc analyst explains.

The average SMM #0 zinc price in May rose to 16,757 yuan per tonne, increasing operating rates at major domestic zinc smelters to 83.08%, up 4.7 percentage points MoM and 12 percentage points YoY, SMM finds in its latest survey.

Output in Yunnan grew 15.74% MoM, and that in Anhui grew to 11,000 tonnes, up 156.8% from April’s 4,373 tonnes, according to CNIA.

But SMM survey shows Yunnan’s zinc output was up 15.57% MoM, as a result of restarts at producers, including Yuntong Zinc and Mengzi Mineral & Metallurgy. Output at Anhui's Tongguan Non-ferrous Metals, the province's largest smelter, was only up 1 percentage point from April.

"Domestic zinc output in June should fall slightly as Zijin Mining, Chifeng NFC Zinc Industry and Yuguang Zinc Industry conduct maintenance”, SMM predicts.

Zinc output during the first five months of this year was 2.51 million tonnes, a rise of 13.39% YoY, CNIA reports.

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