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the country’s refined zinc import dependency is relatively high. Imports of 710,000 tons last year represented 83% of domestic consumption, according to the USGS.
Belgium-based Nyrstar said it would cut production by up to 50% at its three European zinc smelters from Wednesday. The three smelters have a combined capacity of around 700,000 tons per annum, according to Commerzbank. The cuts come at a time when inventories are low on the LME system.