Zinc prices fell 1.6% to 255.9, which accounts for nearly 50% of the cost of zinc production. Zinc stocks fell by 8.5% from the previous Friday, which also impacted the price movement.
The surplus in the global zinc market narrowed to 8,300 MT in May from 15,300 MT in April. In July 2024, China’s refined zinc production fell 10.3% month-on-month and 11.15% year-on-year.
The decline was caused by a variety of factors, including heavy rains in Sichuan and unplanned production cuts in Yunnan, Guangdong and Guangxi.
