10-year low zinc stocks to underpin LME, SHFE zinc prices

Published: Dec 4, 2018 14:49

Save

Zinc stocks across LME warehouses extended declines on Monday Dec 3, to the lowest in over 10 years

SHANGHAI, Dec 4 (SMM) – Zinc inventories across LME warehouses extended their decline on Monday December 3, to the lowest in over ten years, to 112,575 mt, showed LME stocks data.

SHFE data showed that zinc stocks across LME warehouses also dipped to a 10-year low of 26,779 mt as of Friday November 30, down 24% on the week.

Such declines in inventories are set to underpin rebounds in both LME zinc and SHFE zinc contracts.

Market commentary

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 for 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

32 mins ago

[SMM Flash] APAC Mining Equipment Hiring Surges 30% YoY, Signaling Base and Critical Metals Expansion

The latest workforce indicators reveal a substantial 30% year-over-year surge in active job postings related to mining equipment across the Asia-Pacific (APAC) region. Functioning as a critical leading indicator for capital expenditure and structural expansion, this sharp increase signals that mining companies in the region are actively initiating new projects, expanding current capacities, or aggressively pursuing fleet modernizations. The spike in demand for machine operators, engineers, and maintenance technicians underscores a widespread regional commitment to boosting production throughput for base metals, precious metals, and critical minerals vital to global supply chains. Analysts note that this accelerated hiring trend will inevitably translate into growing backlogs for heavy equipment manufacturers and components suppliers moving forward.

32 mins ago

1 hour ago

[SMM Flash] In H1, national land transaction floor area reached 210 million m², down 22% YoY

[SMM Flash] In H1, national land transaction floor area reached 210 million m², down 22% YoY, hitting a new low for the first half of the year; first-tier and second-tier cities fell 18% and 39% YoY, respectively. The average premium rate in June was 13.7%, the first time exceeding 10% in nearly a year. The transaction value of the top 3 cities fell over 50% YoY. Land auction heat in core cities climbed month by month, and the pattern of central and state-owned enterprises dominating land acquisition continued.

1 hour ago

[SMM Flash] CCTV News: The world's first and largest single-unit capacity tension leg floating wind power platform

[SMM Flash] CCTV News: The world's first and largest single-unit capacity tension leg floating wind power platform, "Haiyou Anlan", departed from Zhuhai Gaolan Port on June 27, heading to the sea area of the Lufeng Oilfields in eastern Guangdong. The platform has a total height of over 307 meters and a total weight of nearly 8,000 mt. After operation, it will generate an annual average of 54 million kWh, reduce carbon emissions by about 35,000 mt, and save approximately 15,000 m³ of fuel oil, marking China's transition of deep-sea floating wind power from demonstration to scale and commercialization, and pioneering a new path for collaborative carbon reduction with "deep-sea wind power + oilfield development".

1 hour ago