One China Zinc Smelter Denies Production Halts Rumor, SMM Reports

According to SMM research, domestic monthly output of zinc concentrate continued to rise since March, 2021. The TCs for imported ore led the downward correction since late August, and the TCs for domestic ore fell since end of September. The current supply of ore was still tight even the smelting capacity has been constrained by the power rationing. The TCs are likely to drop further in Q4.

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SMM Morning Comments (Dec 28)

A new wave of price increase seems to have been formed with 13 tyres companies releasing such notices since Dec.1st.

Domestic zinc concentrated TCs fell 50 yuan per tonne on average in Inner Mongolia due to supply tightness, SMM understands.

In the futures market, the most actively traded contracts of coking coal, coke and iron ore dropped over 2% after opening on September 5.

The table below shows inventories of base metals on the LME on August 15.

Zinc trading inventories in Tianjin dropped for two weeks in a row by an average of 3,000-4,000 tonnes, SMM understands.