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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (34695)	3/25/2009 9:22:05 PM
From: LoneClone	Read Replies (1) of 194042

China's top lead firms propose to launch lead futures chinamining.org Zhuzhou Smelter Group Co., is now leading seven other leading Chinese lead and zinc refineries to draft a proposal on launching lead futures and submit it to China Securities Regulatory Commission and Shanghai Futures Exchange for consideration, a company source disclosed. It's learned that Shenzhen Zhongjin Lingnan Nonfemet Co. and Henan Yuguang Gold & Lead Co. (600531.SH) joined the drafting and the first draft will come out before April 15. China Non-ferrous Metals Industry Association also put it as its priority to promote lead futures this year. Currently the domestic lead price keeps at a low level due to faltered demand from downstream enterprises and cheaper imported lead. However, some major refineries note that tight iron ore supply will force market to gradually accept the price of above 12,000 yuan/ton.

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