Zinc Ingot Social Inventory down 1,600 mt from Monday

Published: Sep 2, 2022 14:55
Source: SMM
According to SMM data, the zinc ingot inventories across seven major markets in China totalled 121,700 mt as of September 2, down 1,600 mt from Monday and 1,800 mt from the previous week.

SHANGHAI, Sep 2 (SMM) - According to SMM data, the zinc ingot inventories across seven major markets in China totalled 121,700 mt as of September 2, down 1,600 mt from Monday and 1,800 mt from the previous week. In the Shanghai market, the arrivals were low as some smelters in Shaanxi was under the impact of pandemic. Moreover, most arrivals of brands such as Qilin went directly to downstream enterprises. Therefore, the inflow of stocks to the warehouse was limited and the inventory in Shanghai slightly dropped among dip purchasing. The outflow of warrants from the Guangdong market shrank this week, but the arrivals were small as some of Qilin zinc was shipped to Shanghai. Overall, the inventory in Guangdong continued to decline with stable rigid demand. The inventory in Tianjin added slightly as smelters gradually resumed the normal production with increased zinc ingot inflows from Guandong while the purchase demand was weak. Overall, the total inventory in Shanghai, Guangdong and Tianjin fell 1,200 mt, and that across seven major markets in China sank 1,600 mt from Monday.

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
LME Drove SHFE Lower, SHFE Zinc Declined [SMM Zinc Morning Comment]
3 hours ago
LME Drove SHFE Lower, SHFE Zinc Declined [SMM Zinc Morning Comment]
Read More
LME Drove SHFE Lower, SHFE Zinc Declined [SMM Zinc Morning Comment]
LME Drove SHFE Lower, SHFE Zinc Declined [SMM Zinc Morning Comment]
[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2605 contract opened at 23,680 yuan/mt. In early trading, SHFE zinc briefly rose to a high of 23,685 yuan/mt, after which bears added to their positions and SHFE zinc fluctuated downward all the way, hitting a low of 23,440 yuan/mt near the close. It finally closed down at 23,455 yuan/mt, down 275 yuan/mt, or 1.16%. Trading volume fell to 39,416 lots, and open interest increased by 10,738 lots to 91,209 lots.
3 hours ago
LME Inventory Increased by 20kt, LME Zinc Came Under Pressure [SMM Morning Meeting Summary]
3 hours ago
LME Inventory Increased by 20kt, LME Zinc Came Under Pressure [SMM Morning Meeting Summary]
Read More
LME Inventory Increased by 20kt, LME Zinc Came Under Pressure [SMM Morning Meeting Summary]
LME Inventory Increased by 20kt, LME Zinc Came Under Pressure [SMM Morning Meeting Summary]
[SMM Morning Meeting Summary: LME Inventory Increased by 20kt, LME Zinc Came Under Pressure] Overnight, LME zinc opened at $3,277/mt. In early trading, LME zinc briefly rose to a high of $3,293/mt before bulls reduced open interest, sending LME zinc fluctuating downward throughout the session and touching a low of $3,210/mt during the night session. The center then rebounded slightly, and it finally closed down at $3,233/mt, down $46/mt, a decrease of 1.4%, with trading volume increasing to 13,404 lots and open interest falling by 3,868 lots to 214,000 lots.
3 hours ago
Significant Inventory Pressure Continued to Cap Zinc Prices on the Upside [SMM Zinc Brief Review]
19 hours ago
Significant Inventory Pressure Continued to Cap Zinc Prices on the Upside [SMM Zinc Brief Review]
Read More
Significant Inventory Pressure Continued to Cap Zinc Prices on the Upside [SMM Zinc Brief Review]
Significant Inventory Pressure Continued to Cap Zinc Prices on the Upside [SMM Zinc Brief Review]
[Heavy Inventory Pressure Continues to Cap Zinc Prices on the Upside] The most-traded SHFE zinc 2605 contract opened at 23,915 yuan/mt. In early trading, as bears reduced positions, SHFE zinc gradually rose to above the daily average line and touched a high of 24,055 yuan/mt. Later, as bears added positions, SHFE zinc gradually fell below the daily average line and hit a low of 23,720 yuan/mt, finally closing down at 23,730 yuan/mt.....
19 hours ago