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The Ministry of Steel clarified that it simply wants a say and not direct control in dealing with raw material concerns.
A weaker dollar and the upcoming Chinese New Year continue to influence the prices of base metals.
Zinc supply is expected to be tight during the first quarter of this year, prompting differences in price and annual concentrate treatment charges.
The value of zinc remains high as demand in many industries continues.
Although copper production may drop down this year, growth is still expected from a major copper producer, Peru.
Portable batteries will push the demand for zinc while car manufacturing industries will boost the aluminum industry.
Rising metal prices mean growth while falling prices translates to an economic slowdown.
China, the world's biggest consumer of base metals, has been the barometer of base metal prices.
The copper industry is expected to make a comeback in 2018 after it suffered a massive blow back in 2011.
China's copper production surged while zinc and platinum output decreased.