Nov 20 China's major zinc smelters said on Friday they will slash output by 500,000 tonnes next year, almost a fifth of their output as the industry tries to boost prices languishing at six-year lows.
Debt-laden European zinc producer Nyrstar (EBR:NYR) said Monday it plans to raise up to $296 million (€275m) through a share offering to pay down debt and has appointed bankers to explore a total exit from mining.
Drop in mineral prices on world markets has made Glencore cut 500 thousand tons of zinc production which is equivalent to 4 percent of total global output of the metal.A move that caused copper prices to rise by about 10 percent.