China's lead and zinc price may continue its downward trend in the rest of this year given the current lead and zinc glut on the market, according to analysts at the 2008 Shanghai Lead and Zinc Conference.

    Statistics show gross lead and zinc stock including smeltery inventory totals 300,000 tons, a record high in recent four years.

    Fine zinc yield for July reached 331,200 tons, rising 18.6 percent on year, much higher than the 8.3 percent average in Jan.-July period despite the fact that 27 Chinese zinc enterprises had announced in mid July to cut production.

    The decline of zinc prices is not likely to be averted in near future, said experts.

    Price of zinc futures contract at Shanghai Futures Exchange fell to below 15,000 yuan/ton from 35,900 yuan/ton two years ago,reflecting the weak demands at present as well.