Zinc social inventories increased 33,700 mt on week

Published: Feb 21, 2020 14:21

Save

Zinc inventories in China continued to trend higher this week on the back of cargo arrivals amid the resumption of logistics and sluggish downstream demand

SHANGHAI, Feb 21 (SMM) – Zinc inventories in China continued to trend higher this week on the back of cargo arrivals amid the resumption of logistics and sluggish downstream demand.

SMM data showed that social inventories of refined zinc across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 294,500 mt as of Friday February 21, up 33,700 mt from last Friday February 14 and up 22,000 mt from Monday February 17.

Guangdong and Shanghai accounted for most of the increase in overall inventories. The gradual resumption of shipments facilitated the arrivals at warehouses in east and south China, while a limited pickup in downstream demand failed to boost delivery from the warehouses. Growth of zinc supply in Tianjin slowed this week as local smelters of major brands slightly scaled back production.

Compared to last Friday, social inventories of refined zinc across Shanghai, Tianjin and Guangdong climbed 28,300 mt.

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

44 mins ago

China's Sulphuric Acid Market Continues to Hit Bottom, Weak Demand Drags Down the Price Center [SMM Sulphuric Acid Weekly Review]

China Sulphuric Acid Market Continued to Hit Bottom, Weak Demand Dragged Down the Price Center [SMM Sulphuric Acid Weekly Review]

44 mins ago

52 mins ago

Guangdong Zinc: Spot Zinc Transactions Average, Guangdong Premiums Unchanged [SMM Midday Review]

[Guangdong: Spot Trading Ordinary, Guangdong Premiums Unchanged] Guangdong #0 zinc was mainly traded at 25,475-25,605 yuan/mt. Mainstream brands were quoted at discounts of 115-75 yuan/mt against the 2609 contract, and at a discount of 55 yuan/mt against Shanghai spot zinc. The Shanghai-Guangdong price spread widened......

52 mins ago

57 mins ago

Tianjin Zinc: Actual Consumption Moderate, Downstream Inquiries Limited [SMM Midday Comment]

[Tianjin Zinc: Actual Consumption Moderate, Downstream Inquiries Limited] In the Tianjin market, #0 zinc ingot was mainly traded at 25,440~25,660 yuan/mt, Zijin was traded at 25,560~25,740 yuan/mt, #1 zinc ingot was traded near 25,430~25,610 yuan/mt, Zijin was quoted at a premium of around 10~20 yuan/mt against the 2609 contract, Huxin was quoted at 26,845 yuan/mt, #0 zinc ingot was quoted at a discount of around 60~1,210 yuan/mt against the 2609 contract, and the Tianjin market was quoted at a discount of around 65 yuan/mt against the Shanghai market.

57 mins ago