Zinc social inventories rose 3,000 over weekend

Published: Jun 8, 2020 13:23

Save

Zinc inventories in China extended their gains over the weekend, primarily propelled by an increase in Shanghai as limited deliveries were taken by downstream buyers.

SHANGHAI, Jun 8 (SMM) – Zinc inventories in China extended their gains over the weekend, primarily propelled by an increase in Shanghai as limited deliveries were taken by downstream buyers.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 3,000 mt from last Friday June 5 to 226,700 mt as of Monday June 8. The stocks were up 7,700 from last Monday June 1.

Concentrated arrivals of shipments from the smelter Zijin and Kazakhstan cargoes lifted zinc inventories in Tianjin, while stocks in Guangdong edged higher amid limited arrivals.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) increased 3,100 mt, following a gain of 8,000 mt mt in the week ended June 5.

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

10 hours ago

Economic Improvement of the Boumadine Polymetallic Mine in Morocco

10 hours ago

11 hours ago

Rising Fed Rate Hike Expectations and Zinc Inventory Buildup Weigh on SHFE Zinc【SMM Zinc Futures Review】

【Rising Fed Rate Hike Expectations and Renewed Zinc Inventory Buildup Weigh on SHFE Zinc】SHFE zinc 2611 contract opened at 26,555 yuan/mt, briefly edged up to 26,595 yuan/mt, then fluctuated lower to touch 26,280 yuan/mt. It closed at 26,335 yuan/mt, down 265 yuan/mt, or 1.00%, from the night-session close......

11 hours ago

US Fed rate hike expectations heat up, combined with zinc ingot social inventory shifting from decline to increase, SHFE zinc falls under pressure [SMM zinc futures review]

[Expectations for US Fed interest rate hikes intensify, combined with zinc ingot social inventory shifting from decline to increase, SHFE zinc falls under pressure] The daytime session of SHFE zinc 2611 contract opened at 26,555 yuan/mt, briefly rose to 26,595 yuan/mt in early trading, then drifted lower to a low of 26,280 yuan/mt, and finally closed at 26,335 yuan/mt, down 265 yuan/mt from the night session close, a decline of 1.00%. Trading volume increased to 58,201 lots, while open interest decreased by 108 lots to 128,000 lots......

11 hours ago