Zinc social inventories surged on concentrated arrivals, stagnated consumption

Published: Jan 20, 2020 16:17 (GMT+8)

Save

Compared to last Monday January 13, the stocks climbed 7,800 mt

SHANGHAI, Jan 20 (SMM) – Zinc inventories in China surged over the weekend, as stocks in all the major trading hubs rose with downstream processors away for the Chinese New Year holiday.

SMM data showed that social inventories of refined zinc across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 6,000 mt from last Friday January 17 to 118,000 mt as of Monday January 20. Compared to last Monday January 13, the stocks climbed 7,800 mt.

Stocks in Shanghai rebounded over the weekend, rising more than 2,000 mt to lead the gains due to the arrival of shipments that had been slowed following the start of a peak holiday travel season and muted stockpiling activity by downstream consumers.

Meanwhile, arrivals at Guangdong and Tianjin were normal, which led to higher inventories amid stagnated demand as almost all downstream consumers there have been closed for the CNY holiday.

Over the weekend, social inventories of refined zinc across Shanghai, Tianjin and Guangdong jumped 4,100 mt, after a build of 4,600 mt in the week ended January 17.

Inventory data Zinc

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

36 mins ago

ACG Updates Gediktepe Production Guidance, Bringing Enriched-Ore Copper and Zinc Start-Up Forward to Q3 2027

ACG Metals revised 2026 production guidance for Gediktepe in Türkiye to 12,000–14,000 tonnes of copper equivalent, including expected sulphide output of 4,000 tonnes of zinc and 2,200 tonnes of copper. A measured commissioning schedule shifts approximately three months of sulphide production into 2027. The updated mine plan forecasts average annual production of approximately 36,000 tonnes CuEq during 2027–2031, around 60% above the midpoint of the original 20,000–25,000-tonne target. The enriched ore treatment project now targets concurrent gold-silver doré and copper-zinc concentrate production in Q3 2027, replacing phased development and bringing copper-zinc output forward from Q1 2029. Initial capital expenditure is estimated at US$60.4 million, with planned throughput of up to 800,000 tonnes of ore annually and assumed copper and zinc recoveries of 86% and 63%, respectively

36 mins ago

1 hour ago

【Flash | Will Indium Phosphide Enter Today’s US-China Summit Agenda?】

Could indium phosphide become a minor-metal issue with major implications at today’s U.S.-China summit? China introduced export controls and licensing requirements for indium-related items in February 2025, while expanding AI datacenter optical connectivity continues to lift demand for Indium Phosphide (InP) wafers, epiwafers and lasers. Following the leaders’ May summit, the White House listed indium among the critical-mineral shortages China would address, without announcing removal of existing controls. Whether today’s meeting will produce further clarity on InP export licensing remains uncertain. SMM believes an improved licensing process could ease overseas supply uncertainty; without progress, tension between rising AI optical demand and constrained material flows may persist.

1 hour ago

Silver Bow Mining Proposes US$88 Million Funding and Credit Support Package with Ocean Partners

Silver Bow Mining announced a non-binding term sheet with Ocean Partners UK for approximately US$88 million in funding and credit support to advance the restart of Rainbow Block, refurbishment of the Jefferson County Metallurgical Complex and working capital requirements in Montana, US. The proposed package comprises a US$40 million concentrate prepayment facility, up to approximately US$43.1 million in reclamation bond guarantees and a US$5 million lead commitment in a future equity financing. Approved replacement bonds are expected to release approximately US$42 million in cash collateral. The associated ten-year offtake would cover all future lead and zinc concentrates from Rainbow Block and ores outside Montana Tunnels’ M-Pit, plus one-third of those from M-Pit ores, with no minimum tonnage or take-or-pay obligations.

1 hour ago