Output cuts brought on by steep declines in zinc demand may drag out talks between miners and smelters negotiating refining fees beyond this week’s annual American Zinc Association’s (AZA) event. Industry sources said: Sizeable mine shutdowns since the fourth quarter should surely drag TCs below last year’s deals. For full story, click here
Korea Zinc will cut production by 10 percent or 45,000 tonnes for 13 months until the end of 2009. For full story, click here
Bulgaria’s KCM said it will cut zinc output by 16 percent this year and and lead output by 9 percent. For full story, click here
By Leia Michele Toovey- Exclusive to Zinc Investing News The zinc industry has been quick to respond to the slump in prices and a host of producers have announced cutbacks and closures. However, without a definitive shift in the current global economic current; supply cuts have yet to directly improve pricing. In Shanghai, spot [...]
By Leia Michele Toovey- Exclusive to Zinc Investing News On the London Metal Exchange (LME), zinc prices have nearly halved to $1,198 a tonne from the end of 2007; last Thursday, lead fell to a two-year low in London. After reductions in automobile production, both General Motors Corp and Ford Motor Co cut vehicle production [...]
Huludao Zinc Industry Co. Ltd of China, has halted 105,000 tonnes of production capacity, or 27 percent of its total, For full story, click here
Sterlite Industries (India) Limited posted its earnings for the Q2 & H1ended 30 September 2008. The company announced highest mined zinc production in any quarter along with refined zinc output at 122,000 tonnes, an increase of 30% over the corresponding prior quarter. For full story, click here For company’s website, click here
Three-months zinc fell 7.6 % to a low of $1090, before closing at $1100, down $80. More than 1.35 mn tonnes, or nearly 1/3rd of China’s 5 mn tonnes of primary zinc output capacity, is slashing output, as a result of low prices and on an annual basis the reductions add up to 450,000 tonnes. For full [...]
Industry officials say zinc prices in China may rebound soon as miners’ output declines. A sales manager at a mining firm in Sichuan said: Spot zinc prices were already below the cost of production at mines that dig low-grade ores, forcing miners to seek lower processing fees. Miners could chop output if their demands are unheeded. For [...]
Australia’s CBH resources said that output of zinc and lead at its Endeavor project will rise. For full story, click here
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