Zinc social inventories shrank 8,100 mt on week

Published: Dec 11, 2020 13:13

Save

Zinc inventories in China fell this week, with stocks in Shanghai and Guangdong decreasing relatively sharply.

SHANGHAI, Dec 11 (SMM) – Zinc inventories in China fell this week, with stocks in Shanghai and Guangdong decreasing relatively sharply.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 8,100 mt in the week ended December 11 to 158,600 mt. The stocks fell 6,500 mt from Monday December 7.

Stocks in Shanghai decreased slightly due to smelters’ maintenance affecting arrivals and limited inflow of imported zinc amid relatively stable downstream demand. In south China's Guangdong, restocking of other regions in Guangdong market and relatively high downstream demand led to the sharp decline in local zinc inventories, with stocks hitting a new low in the year. Stocks in Tianjin rose again as downstream orders weakened seasonally, and increasing zinc prices affected the demand.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 8,100 mt this week, after an 8,100 mt decrease last week.

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

41 mins ago

Continued Increase in China Inventory Put Some Pressure on the Rise of SHFE Zinc [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2604 contract opened at 24,360 yuan/mt. In early trading, SHFE zinc briefly touched a high of 24,390 yuan/mt, then quickly fell to a low of 24,205 yuan/mt. Thereafter, amid a tug-of-war between longs and shorts, SHFE zinc fluctuated rangebound and finally closed down at 24,240 yuan/mt, down 60 yuan/mt, or 0.25%. Trading volume decreased to 35,766 lots, while open interest increased by 1,359 lots to 74,085 lots.

41 mins ago

43 mins ago

LME Zinc Maintained Wide Swings Amid Macro Disturbances [SMM Morning Meeting Minutes]

[SMM Morning Meeting Summary: Affected by Macro Disturbances, LME Zinc Maintained Wide Swings] LME zinc opened at $3,316/mt. In early trading, LME zinc fluctuated upward and touched a high of $3,331.50/mt, after which prices fell rapidly. It then rose and recovered the losses, but during European trading hours, as bears reduced open interest, LME zinc quickly dipped to $3,284/mt. In the night session, amid a tug-of-war between longs and shorts, LME zinc gradually recouped the losses and returned to fluctuate above the average price line, finally closing down at $3,314.50/mt, down $1/mt, or 0.03%. Trading volume decreased to 82,887 lots, and open interest increased by 527 lots to 217,000 lots.

43 mins ago

15 hours ago

Macro Sentiment Repeatedly Shifted, SHFE Zinc Saw Wide Swings [SMM Daily Zinc Review]

[Repeated Macro Sentiment Led to Wide Swings in SHFE Zinc]: The most-traded SHFE zinc 2604 contract opened at 24,370 yuan/mt. SHFE zinc briefly rose in early trading to a high of 24,460 yuan/mt, after which bulls reduced their open interest, and SHFE zinc fluctuated downward with its center moving lower, eventually closing down at 24,300 yuan/mt, down 85 yuan/mt, or 0.35%. Trading volume increased to 109,000 lots, while open interest fell by 1,494 lots to 74,220 lots.

15 hours ago