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Tsairt Mineral: Exports declined as zinc price drops www.zgm.mn
Tsairt Mineral LLC has reported that the exports have declined in the third quarter due to a decrease in zinc price. The company exported 62,000 tons of zinc concentrate in the first eight months of this year, which is 10 percent higher than the previous year.
However, exports were higher in the first half of 2019, but supply dropped 14-15 percent only in August from a year earlier. Zinc price is expected to increase in September and October, according to the Director-General of Tsairt Mineral LLC.
Tsairt Mineral LLC supplies about 75 percent of Mongolian zinc exports and Chinese invested Xin Xin LLC accounts for the remaining 25 percent. Experts believe that zinc extraction in China has increased, as reserves in the London Metal Exchange (LME) grew. However, the prices are expected to decline, according to the analysts of Deutsche Bank and Morgan Stanley. The reserves in LME dropped to the lowest level since April, with zinc price recovering and reaching the highest level in one month. The price of zinc per ton stands at USD 2,357.
Published Date:2019-09-13
