Zinc Spot Premiums to Expand Further as Zinc Inventory Stays at Record Low in Guangdong, SMM Says

SHANGHAI, Sept. 25 (SMM) – Spot premiums in Guangdong may expand further in the near term due to several reasons, SMM said.

First, spot zinc inventory in still low in Guangdong. As of two Fridays ago, zinc inventory in Tianjin remain at a record low of 27,000 tonnes.

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Second, arriving shipments are still limited because some smelters remain under maintenance.

Third, downstream buyers will build stocks for the upcoming Chinese National Day holiday.

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Spot zinc prices are 350-400 yuan per tonne above October zinc on the SHFE, and 30 yuan per tonne above Shanghai prices September 25. 

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