Zinc social inventories shrank 700 mt over weekend

Published: Sep 21, 2020 14:09

Save

Zinc inventories in China shrank over the weekend, with stocks in Guangdong falling sharply while those in Shanghai and Tianjin extending gains.

SHANGHAI, Sep 21 (SMM) – Zinc inventories in China shrank over the weekend, with stocks in Guangdong falling sharply while those in Shanghai and Tianjin extending gains.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei fell 700 from last Friday September 18 to 160,100 mt as of Monday September 21. The stocks were down 6,100 mt from last Monday September 14.

Stepped-up production at smelters, rising arrivals of cargoes in the market and inflow of imported zinc significantly lifted inventories in Shanghai. A few traders in Guangdong delivered cargoes to east China, leading to the sharp drop in local zinc inventories. Stocks in Tianjin built up on tepid downstream demand.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) expanded 1,000 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 to learn 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

1 hour ago

Strong Bottom Support in Zinc Fundamentals, Limited Downside Expected [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight SHFE zinc posted a small bullish candlestick, but the center of the daily candlestick edged slightly lower. Overnight zinc prices traded in a narrow range, with relatively strong support at the bottom; watch...

1 hour ago

Persistent Global Inflation Concerns; LME Zinc Posts Five Consecutive Down Sessions [SMM Morning Meeting Minutes]

[SMM Morning Meeting Minutes: Concerns Over Persistent Global Inflation; LME Zinc Posted Five Consecutive Down Days] Overnight, LME zinc posted five consecutive down days, with the center of the daily candlestick moving lower. As tensions in the Middle East heightened market concerns over persistent global inflation, the US dollar strengthened, putting pressure on the overall base metals complex, but......

1 hour ago

15 hours ago

Stronger US Dollar Weighed on SHFE Zinc, Which Slipped in Daytime Trading [SMM Zinc Futures Brief Commentary]

[Stronger Dollar Weighs, SHFE Zinc Slips in Day Session]: The most-traded SHFE zinc 2604 contract opened at 24,555 yuan/mt. Early in the session, SHFE zinc touched a high of 24,720 yuan/mt, then fluctuated downward. Near the close, SHFE zinc dipped to 24,320 yuan/mt, and finally closed down at 24,370 yuan/mt, down 155 yuan/mt, a decline of 0.63%..

15 hours ago