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Mkt: SHFE zinc futures close higher on Mon. due to expected output cut

2015-11-23 15:05

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Zinc futures traded on the Shanghai Futures Exchange (SHFE) closed higher on Monday due to expectation of output cut next year. The Shanghai benchmark zinc contract for January delivery closed 1.44 percent higher at 12,355 yuan/metric ton (tonne) on Monday.

Major zinc smelters in China last Friday launched an initiative to cut refined zinc output in 2016 by 500,000 tonnes, equivalent to nearly 10 percent of the country's annual output. In the short term, the cut plan will boost the domestic zinc prices, said analysts. (Contributed by Hu Pingchao,

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