LME Base Metals Inventories (2017-9-4)

Total zinc ingots inventories across seven major markets in China stood at 284,100 mt as of April 15, up 6,100 mt from April 8, down 3,700 mt from April 11.

Quotes of import premiums for warrants stood at $10-$30/mt today. The average price was $20/mt under warrants, which is stable compared with the last trading day.

Hundreds of workers working in Mount Polley copper concentrate near Williams Lake in Columbia, Britain are being recalled.

Shanghai base metals mostly trended lower on Tuesday morning after US dollar rallied significantly. Meanwhile, their counterparts on LME performed similarly.

Shanghai nonferrous metals mostly closed in the positive territory as the market was cheered up by the macro front, as China released its December official manufacturing and non-manufacturing PMI readings, which topped market expectation.

Total zinc inventories across seven Chinese markets stood at 120,100 mt as of December 31, down 6,600 mt from December 27 and 4,100 mt from December 24.

SHFE and LME zinc prices once again hit new highs in two months, mainly owing to the continuously rising electricity and natural gas prices which rose by more than 20% amid intensifying energy shortages in the eurozone, according to SMM. Meanwhile, the costs of smelters also climbed due to low zinc concentrate TCs as a result of tight supply.

Shanghai base metals trended mixed on Tuesday morning after the US $1.75 trillion investment bill was blocked. Meanwhile, their counterparts on LME mostly went up.

Shanghai base metals basically trended lower amid a cautious market which expected the Fed to wrap up the bond purchasing program early than estimate. Meanwhile, their counterparts on LME mostly closed in the positive zone.

Shanghai base metals basically trended higher on Friday morning. Meanwhile, their counterparts on LME trended mixed.