Zinc inventories climb on delivery from smelters, imports

Published: Oct 8, 2018 15:22

Save

Social inventories of refined zinc across Shanghai, Tianjin and Guangdong came in at 147,400 mt as of Monday Oct 8

SHANGHAI, Oct 8 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong came in at 147,400 mt as of Monday October 8, SMM data showed.

This was up 20,700 mt from Tuesday September 25 and up 26,000 mt from Friday September 28. Stocks of the three consumption areas all registered increases during the National Day holiday.

Smelters mostly maintained regular delivery during the week-long holiday, while downstream consumers took breaks for a few days and made limited purchases.

An open import arbitrage window encouraged importers to move cargoes into the domestic market, and this also grew zinc inventories across social warehouses.

SMM expects a slight decline in the inventories after the holiday week as most downstream plants would restock and resume normal production.

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

1 hour ago

[SMM Flash] Kuwait Petroleum Corporation (KPC) set the June Kuwait Sulfur Price (KSP) at FOB $805/mt, up $40/mt.

[SMM Flash] Kuwait Petroleum Corporation (KPC) set the June Kuwait Sulfur Price (KSP) at FOB $805/mt, up $40/mt from $765/mt in May.

1 hour ago

Fundamentals Show Mixed Signals, SHFE Zinc Hovers at High Levels [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2607 contract opened at 24,860 yuan/mt. At the beginning of the session, SHFE zinc surged upward and touched a high of 24,995 yuan/mt. Subsequently, bulls took profits and exited, causing the price to pull back and explore a low of 24,830 yuan/mt. During the session, the price rebounded amid short covering, and closed slightly higher near the daily average line at the end of the session. It finally closed up at 24,915 yuan/mt, up 115 yuan/mt, or 0.46%. Trading volume declined to 50,122 lots, and open interest decreased by 273 lots to 101,000 lots.

1 hour ago

LME zinc recorded a small bearish candlestick with wild swings in price [SMM Morning Meeting Minutes]

[SMM Morning Meeting Minutes: LME Zinc Posted a Small Bearish Candlestick as Prices Saw Wild Swings]: Overnight, LME zinc opened at $3,598/mt. Early in the session, it quickly touched a high of $3,607.5/mt, before pulling back. By midday, LME zinc surged above the daily average line but pulled back again and dipped to $3,568/mt. After European trading began, LME zinc swung higher, recouping most of its losses, and finally closed down at $3,595/mt, down $8.5/mt, a decline of 0.24%. Trading volume fell to 85,820 lots, and open interest increased by 434 lots to 231,000 lots.

1 hour ago