Get used to bad macro newsHere's more. Steel cuts = less zinc consumption. How much this affects the zinc market, well who knows really but galvanizing steel has consitently been represented as ~50% of zinc consumption.
https://news.xinhuanet.com/english/2016-01/25/c_135044264.htm
Industrial closures are on the horizon. Crude steel production capacity will be cut by 100 to 150 million tonnes, while coal production will be reduced by "a relatively large amount," the State Council said in a statement released Sunday without elaborating on a time frame.
The steel production slash could translate into the loss of jobs for up to 400,000 workers, estimated Li Xinchuang, head of China Metallurgical Industry Planning and Research Institute.
Li said more people will be affected in the upstream and downstream industries.