Why Zinc Inventories Fall Sharply in Tianjin? How the 13th National Games Affect Downstream Producers? SMM Reports

Total zinc inventory across seven Chinese markets stood at 131,600 mt as of December 6, up 1,500 mt from Friday December 3, but down 1,700 mt from Monday November 29.

Total zinc inventories across seven Chinese markets stood at 128,700 mt as of November 19, down 2,600 mt from November 12 and 6,500 mt from November 15.

Total zinc inventories across seven Chinese markets stood at 147,200 mt as of October 18, up 8,100 mt from Friday October 15 and 10,600 mt from last Monday October 11.

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.

SMM Evening Comments (Jan 23)

SMM Morning Comments (Jan 19)

SMM Evening Comments (Jan 17)

Zinc prices maintained upward momentum in 2017, thanks to the fundamental story. LME zinc refreshed a 10-year high, and SHFE zinc jumped above 27,000 yuan per tonne, up over 20% so far this year.

One zinc smelter in South China began maintenance cycle due to transformer and device reasons.

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