SHFE 1708 Zinc Continues Rising (2017-6-23)

[China sulphuric acid index falls for 10 consecutive weeks, posting the largest weekly decline of the year; Daye initiates the second sharp cut in September SMM Sulphuric Acid Weekly Review]

Contango Silver & Gold announced that it had completed the camp-to-proposed-portal road, bridges and portal pad at its Johnson Tract polymetallic project in Alaska. Geotechnical drilling along the proposed coastal access road and barge facility easements has also been completed. Most environmental and cultural baseline studies are substantially complete, while permitting for the coastal road and barge facilities remains underway. The JT deposit has an existing indicated resource of 3.489 million tonnes grading 5.21% zinc and 0.67% lead, containing 400.8 million lb of zinc and 51.5 million lb of lead, alongside gold, silver and copper. The resource estimate has an effective date of July 12, 2022. The completed works prepare the site for subsequent underground exploration and feasibility studies. The project is not in production, and the completed road covers the camp-to-proposed-portal section.

【East China Zinc Ingot Market】 SHFE zinc futures prices fell notably, driven by the weaker futures market, downstream buyers in East China became more active in pricing since last night; however, actual fresh procurement remained relatively limited. During the morning session, overall trading activity in the East China zinc ingot market improved versus the previous trading day, and spot premiums edged up modestly. Per SMM data, today's SMM 0# zinc ingot average price was reported at RMB 26,620/mt, down RMB 925/mt day-on-day.