SHANGHAI, Jun 8 (SMM) – Operating rates across refined zinc producers in China fell 3.48 percentage points from April and stood at 68.6% in May, SMM research found.
In May, many smelters underwent maintenance and this accounted for the relatively sharp decline in operating rates. As falling zinc prices and low processing fees narrowed profit margins, some smelters brought forward planned maintenance works or reduced production to avoid losses.
We expect rates to inch up to 71.4% in June. Much maintenance will be seen across smelters in Shaanxi and Inner Mongolia province this month.
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