China 13 major zinc/lead smelters not planning to cut output - report
17 Jul 2008
Xinhua Newsfeed
BEIJING (XFN-ASIA) - Thirteen major zinc and lead smelters have no plans to cut output, following announcements by some industry participants that they will reduce production, the official China Securities Journal reported.
The producers include Hunan Zhuye Torch Metals Co Ltd (SHA 600961), Shenzhen Zhongjin Lingnan Nonfemet Co Ltd (SZA 000060) and Yunnan Chihong Zinc & Germanium (SHA 600497), who met in Beijing yesterday, the report said.
The report said some of the large producers are reporting low inventories.
Hunan Zhuye Torch Metals currently has nearly zero stocks, while Shenzhen Zhongjin Lingnan has less than 1,000 tons, it said.
Earlier, 27 other zinc and lead smelters reportedly agreed to cut output by 10 pct from this month until September in a bid to prop up market prices.
The companies announced their output cuts at an industry conference in Shanghai over the weekend.
The news follows a similar 5-10 pct output cut in aluminum output by the country's 20 largest smelters on Thursday.
In relation to the stock quote service (the "Quote Service") information, the stock price, trade volume and turnover are provided by The Stock Exchange of Hong Kong Limited ("SEHK") and/or HKEx Information Services Limited ("Exchange-supplied information"), whilst modifications to and adaptations of the foregoing are made by Quam (H.K.) Limited ("Quam-supplied information"). For the Exchange-supplied information, you may refer to SEHK's website at http://www.hkex.com.hk/ and for Quam-supplied information, you may refer to http://www.quamnet.com/. There may be a delay between the Quote Service information and the Exchange-supplied information or the Quam-supplied information.
SEHK and Quam (H.K.) Limited endeavour to ensure the accuracy and reliability of the Exchange-supplied information and the Quam-supplied information respectively but do not guarantee their accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.
The above information is supplied by our data providers (SHK Financial Data, Xinhua Finance and Infocast among others) and is for reference purposes only. Neither the Group nor any of its data providers is liable or responsible for the accuracy and reliability of the above information. The Group is not responsible for any loss or damage which may be incurred as a result of any decisions made in reliance on the information contained herein or caused by informational errors or delays.
