[SMM Analysis: Review of Zinc Price Trends in September 2024 and

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NewsFlash / Zinc / SMM Analysis: Zinc Prices Soar 5.10% in September 2024; Outlook for October Trends

SMM Analysis: Zinc Prices Soar 5.10% in September 2024; Outlook for October Trends

Oct 12, 2024 19:53

Source:SMM

[SMM Analysis: Review of Zinc Price Trends in September 2024 and Outlook for October] As of September 30, the main contract for Shanghai zinc closed at 25,120 yuan/ton, marking a significant monthly increase of 1,220 yuan/ton, or 5.10%. At the beginning of the month, Shanghai zinc briefly dipped to a low of 22,305 yuan/ton before rebounding from its low levels and trending upwards, reaching a high of 25,120 yuan/ton by the end of the month. The center of gravity for zinc prices in September shifted notably higher compared to August. What were the main drivers behind this substantial rally? How will it evolve in October…?

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[Low Inventory Supports Zinc Prices, SHFE Zinc Maintains Fluctuating Trend]: The most-traded SHFE zinc 2502 contract opened at 24,905 yuan/mt, initially dipped to a low of 24,885 yuan/mt, then slightly rebounded above the daily moving average, reaching an intraday high of 25,060 yuan/mt during the midday session. It subsequently fluctuated around the daily moving average and finally closed higher at 24,960 yuan/mt, up 65 yuan/mt, an increase of 0.26%...

Dec 20, 2024 18:44

Selected News

Zinc ingot inventories across China’s seven major regions declined

According to an SMM survey, as of Thursday (December 19), total zinc ingot inventories across seven regions tracked by SMM stood at 82,200 mt, down 9,200 mt from December 12 and 7,200 mt from December 16.

Dec 20, 2024 16:48

Industry

Zinc inventories in the Shanghai Bonded Zone declined

According to SMM, as of Thursday (December 19), inventories in the Shanghai Bonded Zone stood at 8,000 mt, down 600 mt WoW.

Dec 20, 2024 16:46

Industry

From the Supply-Demand Pattern Perspective, 2025 Zinc Ingot Long-Term Contract Prices [SMM Analysis]

[From the Supply-Demand Pattern Perspective: 2025 Zinc Ingot Long-Term Contract Prices] As the transition between the old and the new approaches, the execution of 2025 long-term contracts is expected to commence. The market is paying close attention to the signing of long-term contracts by zinc smelters for the coming year. SMM has compiled the 2025 long-term contract price information of some enterprises as follows:

Dec 20, 2024 16:12

Selected News

Data: SHFE, DCE market movement (Dec 20)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Dec 20, 2024

Dec 20, 2024 15:45

Analysis

Data: SHFE, DCE market movement (Dec 20)

Refined Zinc Imports in November Down 39.15% MoM, Potential Increase in December? [SMM Analysis]

【Refined Zinc Imports in November Down 39.15% MoM, Potential Increase in December?】According to the latest customs data, refined zinc imports in November 2024 totaled 35,200 mt, down 22,600 mt or 39.15% MoM, and down 32.04% YoY. From January to November, cumulative refined zinc imports reached 412,800 mt, up 15.41% YoY. Refined zinc exports in November were 400 mt, resulting in net imports of refined zinc at 34,700 mt for the month.

Dec 20, 2024 13:08

Selected News

SMM Morning Comment For SHFE Base Metals (Dec 20)

Overnight, LME copper opened at $8,915.5/mt, fluctuated rangebound in early trading, and slightly rose during the session to a high of $8,936.5/mt. The center shifted downward to a low of $8,859.5/mt, and LME copper closed at $8,885/mt, down 1.77%.

Dec 20, 2024 10:04

Industry

Zinc Prices Fall Back from Highs: How Is Downstream Consumption Performing? [SMM Analysis]

[Zinc Prices Fall Back From Highs: How Is Downstream Consumption Performing?] Zinc consumption overall remained relatively stable during the week. Galvanizing operating rates slightly declined, primarily due to the drop in ferrous metals prices and the gradual completion of winter projects in northern regions. Additionally, environmental protection-driven production restrictions in areas such as Shandong, Henan, and Anhui also contributed to the slight decline in operating rates.

Dec 20, 2024 09:53

Selected News

US Dollar Rises to Two-Year High, LME Zinc Records Four-Day Losing Streak [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] LME zinc recorded a four-day losing streak overnight, with the center of the daily candlestick moving downward. Overnight, LME zinc inventory decreased by 2,875 mt to 257,525 mt, a drop of 1.1%, marking a reduction in LME inventory. Initial jobless claims in the US fell more than expected, reinforcing cautious interest rate cut expectations for the future. The US dollar index surged to a two-year high, leading to a collective pullback in base metals, with the center of LME zinc moving downward.

Dec 20, 2024 08:55

Selected News

Macro Sentiment Weakens, Zinc Prices Decline All the Way [SMM Morning Meeting Summary]

[SMM Morning Meeting Summary: Poor Macro Sentiment Drives Zinc Prices Down] SHFE zinc recorded five consecutive declines overnight, with the 40-day moving average forming resistance and the KDJ indicator expanding downward. Although social inventory decreased overnight, poor macro sentiment weighed on zinc prices.

Dec 20, 2024 08:53

Selected News

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NET ZERO MEA - Solar & Energy Storage

2025 SMM (20th) Lead & Zinc Conference and Industry Expo

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