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Home / Metal News / Nonfemet to Raise 1.525 Bln Yuan for Recycling and Metal Projects

Nonfemet to Raise 1.525 Bln Yuan for Recycling and Metal Projects

Jul 3, 2017 12:00

Source:SMM

Zhongjin Lingnan Nonfemet Co. will raise 1.525 bln yuan for recycling and metal projects and add to liquidity, .cs.com reported.

SHANGHAI, Jul. 3 (SMM) - Zhongjin Lingnan Nonfemet Co. will raise 1.525 bln yuan for recycling and metal projects and add to liquidity, .cs.com reported.

Zinc Prices to Strengthen This Week, SMM Foresees

It issued 167 million shares at price of 9.12 yuan per share so as to raise 1.525 bln yuan. The money will be mainly invested in tailings resources recycling and environmental protection treatment project, high-performance composite metal projects, high power mercury-free battery zinc powder and its recycling projects and new material R&D project.

Chinese Zinc Smelters Hike Zinc Concentrate TCs, SMM Reports

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

Zhongjin Lingnan Nonfemet Co.

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On the one hand, Teck Resources has signed an annual zinc concentrate contract with a 45% increase in TCs to $230/dmt. An escalation clause was included: if the prices of zinc exceed $3,800/mt, TCs will rise by $0.05/mt for every $1/mt increase in the prices of LME zinc, but if the zinc prices fall, TCs will remain unchanged (the same as the 20%/80% price sharing scheme in China).

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SMM Comments

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SMM Comments

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SMM Evening Comments

Apr 10, 2018 18:04

SMM Comments

SMM Evening Comments (Mar 15)

SMM Evening Comments

Mar 15, 2018 17:50

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Trading remained flat in the Shanghai zinc spot market today as sellers were unwilling to releases cargoes after zinc prices fell.

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Nonfemet to Raise 1.525 Bln Yuan for Recycling and Metal Projects

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