Zinc to Bounce Up as China Output Cuts Show Result, SMM Says
Zinc prices fell below 22,000 yuan per tonne March 9 due to concerns over failure in output cut by zinc smelters. Fortunately, a large number of Chinese zinc smelters began maintenance.In addition to maintenance cycle, recent output cut is also the spirit of the meeting of some large zinc smelters in Central West China held recently.
Will Zinc Get Boost after Output Cut Deal? SMM Reports
But the focus is whether the maintenance will actually help reduce refined zinc supply.
China’s refined zinc output is expected to be about 1.29 million tonnes in the first quarter of the year, up 1.4% year-on-year, SMM predicts. SMM undertook a survey of maintenance at zinc smelters during March and April, and found some smelters delayed maintenance to April. Zinc output in March is estimated to be 430,000 tonnes, while output in April should fall 1.9% on the month and down 3.9% year-on-year.
COPPER: Peru Copper Output up 24.8% in January
Peru Energy & Mines Ministry data show the country’s copper output increased 24.8% year-on-year to 196,317 metric tonnes in January 2017, wenhua.com reported.The country’s copper production added 38.4% year-on-year to 2.35 million metric tonnes in 2016.
ALUMINIUM: Power Price at Aluminum Producers in Guizhou to Rise, Industry Sources
At present, total aluminum capacities in Guizhou are approximately 940,000 tonnes, accounting for 2.16 percent of China’s total of 43.50 million tonnes in 2016, SMM survey finds.As around 80 percent of domestic aluminum producers are equipped with power plants, so the impact on the whole aluminum market will be small, SMM foresees.One local aluminum producer said the company is under negotiating with local government over power price.
“Power price in Guizhou is closely linked to coal price, and the recent surge in coal market is the main reason behind the planned hike,” the producer said.The company’s operational capacities are 280,000 tonnes, and produced 23,000 tonnes in February, with output to hold stable in March. The company has no aluminum inventories.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
Our Some Best Services Read it Here…
www.capitalstars.com | T:+91-731-6790000,6669900