Zinc social inventories shrank 10,100 mt on week

Published: May 21, 2021 14:04

Save

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 10,100 mt in the week ended May 21 to 166,200 mt. The stocks fell 5,000 mt from Monday May 17.

SHANGHAI, May 21 (SMM) – Zinc inventories in China fell this week.

Stocks in Shanghai continued to decrease as the inflow of imported zinc slowed down, and the market digested domestic zinc stocks. In south China's Guangdong, power curtailment and limited production in Yunnan smelters affected market arrivals, which led to the continuous decrease in stocks. Stocks in Tianjin fell slightly as downstream orders were moderate with bearish zinc prices, and downstream continued to purchase on rigid demand.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 10,300 mt this week, after a 6,000 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

2 hours ago

Improved Macro Sentiment, LME Zinc Rebounded From Lows [SMM Zinc Morning Meeting Summary]

[SMM Zinc Morning Meeting Summary: Macro Sentiment Improved, LME Zinc Rebounded From Lows]: Overnight, LME zinc opened at $3,040.5/mt. After the opening, LME zinc fluctuated rangebound. During the session, LME zinc quickly surged to a high of $3,183/mt, then rapidly pulled back to around the daily average line, and subsequently fluctuated upward along the daily average line, finally closing higher at $3,103/mt, up $47/mt, or 1.54%···

2 hours ago

China’s Zinc Ingot Inventory Continued Destocking on Monday, SHFE Zinc Center Moved Higher [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment: China’s Zinc Ingot Destocking Continued on Monday, and the Center of SHFE Zinc Moved Upward] Overnight, the most-traded SHFE zinc 2605 contract opened at 22,960 yuan/mt. After the opening, SHFE zinc fluctuated around the daily average line. In early trading, SHFE zinc dipped to 22,915 yuan/mt, and during the session, it touched a high of 23,150 yuan/mt, before finally closing up at 23,075 yuan/mt..

2 hours ago

16 hours ago

The "Golden March" Peak Season Is Gradually Expected to Materialize. [SMM Analysis]

As expectations for the peak-season demand in the “Golden March” gradually begin to materialize, galvanizing operating rates are rising. Can downstream consumption sustain its peak-season performance going forward?

16 hours ago