BEIJING (XFN-ASIA) - China's 27 zinc and lead smelters have...

BEIJING (XFN-ASIA) - China's 27 zinc and lead smelters have agreed to cut output by 10 pct from this month to September in a bid to prop up market prices, the official China Securities Journal and China Business News reported.

The companies announced their output cuts at an industry conference in Shanghai over the weekend.

They added that the output cuts coincide with the low season for these commodities.

The news follows a similar 5-10 pct output cut in aluminum output by the country's 20 largest smelters on Thursday.

The zinc and lead producers include Sichuan Hongda Co Ltd (SHA 600331) and Henan Yuguang Gold & Lead Group Co Ltd, parent of listed Henan Yuguang Gold & Lead Co Ltd (SHA 600531).

But the country's top three zinc producers - Hunan Zhuye Torch Metals Co Ltd (SHA 600961), Huludao Zinc Industry Co Ltd (SZA 000751) and Shenzhen Zhongjin Lingnan Nonfemet Co Ltd (SZA 000060) - are not on the list, the reports said.

Since May 2007, the price of zinc billet has decreased by 53.42 pct to 15,650 yuan per ton, while the price of lead billet was down by 34.74 pct to 16,500 yuan per ton, the reports added.