Imports further grow zinc social inventories on the weekend

Published: Aug 27, 2018 15:51

Save

Stocks across major markets Shanghai, Tianjin, and Guangdong gained 4,700 mt as of Monday Aug 27, up from Friday Aug 24

SHANGHAI, Aug 27 (SMM) – Imports grew social inventories of zinc over the weekend even as deliveries from smelters remained limited. Imports rose with an open import arbitrage window that has been open for two consecutive weeks.

Stocks across the major markets of Shanghai, Tianjin, and Guangdong came in at 109,800 mt as of Monday August 27, up 4,700 mt from Friday August 24 and up 8,600 mt from Monday August 20.

As of August 27, stocks across social warehouses in Shanghai jumped 3,800 mt from last Friday to 53,100 mt. This accounted for for most of the increase in social inventories.

SMM believes that social inventories are unlikely to drop this week if downstream consumption remains sluggish and if smelters increase deliveries as zinc prices pick up.

Inventory data Zinc

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

Zinc Prices Fluctuated at Highs, Guangdong Spot Premiums Fell This Week [SMM Guangdong Spot Weekly Review]

[Zinc Price Fluctuates at Highs, Guangdong Premiums Fall This Week] This week, Guangdong premiums fell WoW by 15 yuan/mt. As of this Friday, mainstream 0# zinc in Guangdong was quoted at a discount of 90-60 yuan/mt against the market. The Shanghai-Guangdong price spread remained...

2 hours ago

Off-Season Characteristics Increasingly Prominent, Die-Casting Zinc Alloy Starts Lower [SMM Die-Casting Zinc Alloy Weekly Review]

[Off-Season Characteristics Becoming Increasingly Prominent, Die-Casting Zinc Alloy Operating Rate Declines] In terms of downstream demand, zipper order demand in China has been mediocre recently, while demand for luggage and apparel zippers is weak. End-use demand for jewelry and hardware has also slowed down. Regarding export orders, some orders for hardware products exported to the Middle East have been continuously decreasing, but orders shipped to Southeast Asia have been generally normal...

2 hours ago

Finished Product Inventories Rise, Zinc Oxide Operating Rate Continues to Decline [SMM Zinc Oxide Weekly Review]

[Finished Product Inventories Rise, Zinc Oxide Operating Rate Continues to Decline] This week, the operating rate of zinc oxide enterprises recorded 57.11%, down 0.34 percentage points WoW. On the inventory side, due to weakening end-use demand in some segments, some enterprises' finished products experienced inventory buildup...

2 hours ago