Shandong’s 1/3 Galvanized Plate/Sheet Producers Cut Output on Weak Demand

Market focus this week include: the annualised reading of new housing starts in the United States in August, the initial value of the manufacturing PMI in the Eurozone in September, and the initial value of the Markit manufacturing PMI in the United States in September; China's one-year loan market quotation interest rate as of September 22. In terms of events, FOMC will announced the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; and the European Central Bank will announces an economic bulletin.

Many zinc traders contributed the surge in zinc market mainly to two factors, 21st Century Business Herald reported. 

The price spread between domestic and imported zinc has narrowed recently, SMM noted.

There were 28 working days in February, and China’s aluminum output increased to 2.84 million tonnes, up 21.1 percent year-on-year.

Aluminum inventories in domestic five major trading markets started rising from early 2017 in response to growing output, easing of transportation disruption and no demand improvement in early year.  

What’s the impact on domestic aluminum processing industry from the new round of inspections? 

The average operation rate at the 23 Chinese wire & cable producers, representing 1.40 million mt/yr in capacity, tumbled in January, according to SMM survey.  

Traditionally, domestic air-conditioning producers cut prices or take other promotions to stimulate sales around New Year and Chinese New Year holidays. However, conditions are different in 2016.

Utilization rate at major Chinese copper tube/pipe producers grew to 72.70 per cent in October, SMM latest survey shows. 

TCs of domestic zinc concentrate (50%) stabilized at 5,200-5,400 yuan per tonne (zinc content) this past week, and those for imported zinc concentrate (50%) were $110-130 per dry metric tonne (DMT)