Zinc prices were slightly higher by 0.02% at 252.5 due to a mixed global demand outlook, particularly from China, the world’s largest consumer. Stronger-than-expected Chinese retail sales data eased fears of a broader economic slowdown and temporarily limited bearish sentiment.
However, the upside remained capped amid uncertainty following lackluster progress in U.S.-China trade talks and concerns over weak Chinese manufacturing demand. Chinese buyers continued to limit zinc purchases to immediate needs, reflecting cautious sentiment driven by sluggish downstream activity.
Recent Chinese macroeconomic data showed a decline in both exports and imports, indicating weakening external and internal demand. Consumer prices have declined for a fourth straight month, while producer price deflation has deepened to near two-year lows.
