Zinc social inventories dip as lower prices boost purchases

Published: Jun 24, 2019 11:15

Save

Lower prices of zinc below the 2,000 yuan/mt level prompted downstream consumers to stockpile

SHANGHAI, Jun 24 (SMM) – Zinc social inventories shrank over the weekend as lower futures prices of zinc, below the 2,000 yuan/mt level, prompted downstream consumers to stockpile. Limited arrivals in Tianjin and Guangdong also lowered inventories.

SMM data showed that social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased by 1,600 mt from Friday June 21, and by 4,600 mt from Monday June 17, to stand at 153,700 mt as of Monday June 24.

Inventories in Guangdong and Tianjin extended their declines, while an inflow of imported materials grew stocks in Shanghai as of Monday June 24.

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

20 hours ago

East China Zinc Market Sees Surplus, Low Premiums Amid Weak Off-Season Demand

[East China Refined Zinc Market] The east China market saw an overall surplus of zinc ingots this week. Traders adopted a passive selling approach, with spot premiums hovering at lows. Meanwhile, downstream consumption of zinc in east China showed weak performance during the off-season, leading to poor spot transactions throughout the week.

20 hours ago

Imported Zinc Supply Disruptions Persist, Offers Scarce Amid Smelter Hesitation

[Imported Zinc Concentrate Market] Overseas ore supply disruptions have persisted recently. Offers for imported ore remained scarce this week, with some heard quoted at around -$80 to -$90/dmt, but smelters held a strong wait-and-see sentiment, keeping overall trading activity sluggish during the week.

20 hours ago

China's Zinc Concentrate TCs Decline Continues Amid Ongoing Domestic Ore Shortage

[China's Zinc Concentrate Market] This week, China's zinc concentrate TCs extended their decline. In June, some domestic smelters conducted routine maintenance and cut production, but the overall refined zinc output did not drop significantly MoM. The domestic ore shortage has yet to ease, and close attention will be paid to the operating conditions of smelters going forward.

20 hours ago