Has Corridor Bottomed?

What is Going On With Zinc???

China copper, zinc firms restore operations

Chinese metals producers, including Jiangxi Copper and Hunan Nonferrous Metals have started to restore operations after severe snowstorms in China forced them to scale back production, a Hong Kong newspaper reported on February 13.

More than 80% of output capacity of Jiangxi Copper`s mines had resumed by February 12, the South China Morning Post quoted Pan Qifang, company secretary of China`s largest integrated copper producer, as saying.

The company`s smelters had yet to resume full operations due to transport problems and were running at 60 to 70% of normal levels, Pan said, adding it was hard to predict when operations would be fully restored.

Hunan Nonferrous Metals Corp`s Zhuzhou plants had returned to full capacity since power supplies resumed in the past few days, while plants in other areas in Hengyang and Chenzhou were expected to restart as soon as power supplies were restored, the newspaper quoted Chen Zhixin, chief financial officer of China`s largest zinc and tungsen producer, as saying.

Snow and ice storms across southern and central China have brought the coldest weather in 50 years to Hunan. The weather has disrupted the transportation of coal and downed power lines.

Last week, Jiangxi Copper said snowstorms in the southern part of China had a significant impact on production, as at least half of production activities of its copper mines in Jiangxi province had ceased.