SHANGHAI, Aug. 12 (SMM) - Premiums on #0 zinc price in Tianjin over Shanghai price narrowed from 250 yuan to below 100 yuan per tonne, SMM reports.
"The contracting price spread between the two regions is due to weaker zinc price in Tianjin. Tianjin has witnessed growing supplies and softening demand”, SMM zinc analyst says.
Some steel plants around Hebei’s Baozhou will suffer from power restrictions by 90% during August 15-September 4. Steel plants, galvanizers and cement producers in and around Hebei and Tianjin will be ordered to close for 20 days starting August 15. This is believed to dampen zinc consumption.
Some galvanizers in Beijing, Tianjin and Hebei will also shut down if they fail to supplant coal fuel with natural gas as required before mid and late August. Some brickyards also closed recently.
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