OZL 0.44% $15.88 oz minerals limited

zinc cutbacks

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    this will help in the long run

    FACTBOX-Low prices bite Chinese zinc smelters
    Thursday November 06, 2008 02:11:11 EST
    HONG KONG, Nov 6 (Reuters) - Zhuzhou Smelter and Huludao Zinc, China's top and second zinc makers, are reducing production due to low prices, weak domestic demand and constricted supply of concentrate. High-cost smelters started cutting production in the third quarter. So far, more than 1.35 million tonnes, nearly a third of China's 5 million tonnes of primary zinc production capacity, are slowing production and that could cause metal output to fall short from the expected 3.9-4.0 million tonnes this year, smelter sources and analysts said on Thursday. The cuts may widen in coming weeks as prices stay weak and supply of concentrates from northern mines fall in the winter, even though the scale remains uncertain.

    Below is a list of zinc smelters' operations, in tonnes. Producer Capacity Annualised cut Status Zhuzhou 500,000 100,000 Cutting 20-30 pct at 400,000T; New 100,000T on trial Huludao 390,000 200,000 Halted 200,000;60,000 unstable Dongling 225,000 0 Working on plan to cut output Bayannur Zijin 200,000 0 Working on plan to cut output Yuguang 200,000 100,000 Repairing 100,000 T, restart unclear Hongda 100,000 0 (Sichuan) Normal 120,000 0 (Lanping) Normal Nanfang 200,000 0 New 120,000 T on trial; rest normal Nonfemet 190,000 0 No plan to cut output Baiyin 165,000 0 No plan to cut output Chihong 160,000 0 No plan to cut output

    Hanzhong Bayi 120,000 18,000 Cutting 10-20 pct Luoping 80,000 24,000 Cutting 30 pct from Oct

    Western Mining 60,000 16,000 Cutting 2008 output to 54,000 T from planned 70,000 T Total 458,000 Sources: Company sources and smelter officials. (Reporting by Polly Yam ) Keywords: CHINA ZINC/SHUTDOWN ([email protected]; +852 2843 6933; Reuters Messaging: [email protected])
 
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