Zinc social inventories gained 5,600 mt over weekend

Published: Mar 16, 2020 11:54 (GMT+8)

Save

Zinc inventories in China continued to trend higher over the weekend, as arrivals at south China increased and as limited cargoes were delivered from warehouses in the south and east. SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 340,500 mt as of Monday March 16, up 5,600 mt from Friday March 13 and 2,600 mt from Monday March 9.

SHANGHAI, Mar 16 (SMM) – Zinc inventories in China continued to trend higher over the weekend, as arrivals at south China increased and as limited cargoes were delivered from warehouses in the south and east.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 340,500 mt as of Monday March 16, up 5,600 mt from Friday March 13 and 2,600 mt from Monday March 9.

Compared to Shanghai and Guangdong, Tianjin saw a much smaller gain in zinc stocks over the weekend, as major smelters in north China suspended or curtailed production.

Compared to last Friday, social inventories of refined zinc across Shanghai, Tianjin and Guangdong increased 4,800 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

47 mins ago

Macro sentiment is weak, zinc prices encounter resistance [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight, SHFE zinc recorded a bullish candlestick with a long upper shadow, with support from the middle Bollinger Band below, and the KDJ gap widening upward. On the fundamentals side, the ore shortage has yet to improve, TCs remain low, and bottom support is relatively strong. However, expectations for US Fed interest rate hikes have increased, compounded by...

47 mins ago

49 mins ago

Zinc Prices Under Pressure as Expectations for US Fed Interest Rate Hikes Heat Up [SMM Morning Meeting Minutes]

[SMM Morning Meeting Summary: Expectations for US Fed Interest Rate Hikes Rise, Zinc Prices Under Pressure] Overnight, LME zinc recorded a third consecutive decline, with the daily candlestick center edging lower, while the middle Bollinger Band provided support below. Overnight, US Treasury yields rose across the board, and the US September PMI climbed to a multi-year high, reigniting market...

49 mins ago

17 hours ago

Pre-holiday stockpiling consumption was moderate; SHFE zinc consolidated on a subdued note [SMM zinc futures review]

[Pre-holiday stockpiling consumption average, SHFE zinc consolidates on a subdued note] The most-traded SHFE zinc 2611 contract opened at 26,750 yuan/mt, then declined all the way after the open, hitting a high of 26,760 yuan/mt in early trading and a low of 26,510 yuan/mt near the close, before ending down at 26,515 yuan/mt, down 195 yuan/mt or 0.73%, with trading volume up 11,160 lots to 60,363 lots.....

17 hours ago