As expected, China's State Reserves Bureau has bought 100,000 tonnes of refined zinc from eight local smelters at 11,450-11,500 yuan per tonne.
The purchase was the second in less than two months as part of Beijing's plan to support local smelters which are suffering from weak demand.
The average selling price was 11,497 yuan per tonne. Most smelters sold at 11,500 yuan though one smelter sold at 11,450 yuan.
Prices were almost 10 percent higher than spot values in Shanghai on Wednesday. When the SRB made a purchase of 59,000 tonnes in January it was at a price 3.5 percent higher than the spot rate.
The purchase is the result of a huge rise in China's zinc imports, which were up 306 percent from in January from a year earlier and 278 percent from December.
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