Deadly flood the result of illegal mining: Chinese government official

Producers are rushing to send 30,000-40,000 metric tons of refined zinc to warehouses registered with the Shanghai Futures Exchange ahead of November contract expiry on Friday.

China unveiled tax incentives on home and land transactions on Wednesday, aiming to support its crisis-hit property market.

Zijin said that organized groups had illegally mined some "high-grade ore bodies" in the shallow areas of the mine.

The bank has cut its short-term outlook for copper prices by 11% to $8,500 a ton over the next three months.