Zinc social inventories shrank 1,100 mt over weekend

Published: Jan 18, 2021 15:00 (GMT+8)

Save

Zinc inventories in China fell over the weekend, primarily propelled by a decrease in Shanghai and Tianjin.

SHANGHAI, Jan 18 (SMM) – Zinc inventories in China fell over the weekend, primarily propelled by a decrease in Shanghai and Tianjin.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 1,100 mt from last Friday January 15 to 144,700 mt as of Monday January 18. The stocks were down 9,300 mt from last Monday January 11.

Stocks in Shanghai decreased slightly as downstream restocked when zinc prices fell despite the increased arrivals at smelters and the inflow of imported zinc. In south China's Guangdong, low inventories lifted up the shipments at smelters, prompting stocks to rebound. Stocks in Tianjin fell as arrivals decreased with sluggish transaction prices and downstream rigid demand shrank.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) decreased 500 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

4 mins ago

Zinc Inventories in China Drop Below 200,000 mt

[SMM Flash] According to SMM communication, as of Wednesday this week, SMM zinc ingot social inventory across seven major markets continued to decline, pulling back both WoW and from the beginning of this week. China's inventory destocked further and fell below 200,000 mt. Zinc prices remain at a relatively high level, but with the National Day holiday approaching, some end-users still have pre-holiday stockpiling demand, which supports spot cargo pick-up. In addition, the zinc ingot export window has remained open recently, with some cargoes diverted through spot export channels, further driving down China's social inventory. In this round of destocking, the inventory decline in Tianjin was relatively notable.

4 mins ago

7 mins ago

Q3 galvanising operating rates weak YoY; will Q4 demand see a recovery? [SMM analysis]

The galvanising industry remained in the doldrums overall in Q3, with operating rates still at relatively low levels YoY, and demand improvement in the traditional peak season also fell short of expectations. Will demand recover in Q4?

7 mins ago

10 mins ago

Q3 galvanizing operating rates weak YoY; will Q4 demand see a recovery? [SMM Analysis]

[Galvanising operating rates remained weak YoY in Q3; will demand recover in Q4?] The galvanising industry remained in the doldrums overall in Q3, with operating rates still at relatively low levels YoY, and demand improvement in the traditional peak season also fell short of expectations. Will demand recover in Q4?

10 mins ago