Zinc social inventories fell 3,600 mt over weekend

Published: May 25, 2020 14:37

Save

Zinc inventories in China extended their decline over the weekend, propelled by a drop in Guangdong where downstream consumers stepped up purchases after zinc prices pulled back later last week.

SHANGHAI, May 25 (SMM) – Zinc inventories in China extended their decline over the weekend, propelled by a drop in Guangdong where downstream consumers stepped up purchases after zinc prices pulled back later last week.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 3,600 mt from last Friday May 22 to 222,100 mt as of Monday May 25. The stocks were down 5,600 from last Monday May 18.

Stocks in Shanghai and Tianjin, however, rose over the weekend due to the arrivals of imported cargoes.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs—Shanghai, Tianjin and Guangdong—decreased 1,900 mt, following a fall of 1,200 mt in the week ended May 22.

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

5 mins ago

More Negative TCs Deals for Domestic Zinc Concentrates; Overall Downtrend Continues [SMM Zinc Concentrates Weekly Review]

[Domestic zinc concentrate TCs see more negative deals, overall decline continues]: From weekly data, SMM Zn50 domestic weekly average TCs fell 100 yuan/mt Zn WoW to 50 yuan/mt Zn, and the SMM imported zinc concentrate index dropped $7.3/dmt WoW to -$70.75/dmt..

5 mins ago

6 mins ago

Downstream enterprise demand was weak, spot cargo transactions were poor this week [SMM Shanghai Spot Weekly Review]

[Downstream Enterprise Demand Weak, Spot Transactions Poor This Week]: This week, Shanghai spot premiums maintained a fluctuating trend, with the weekly average price basically flat WoW. As of this Friday, ordinary domestic brands were quoted at a discount of 90-40 yuan/mt against the 2607 contract, while the high-priced brand Shuangyan was quoted at a premium of 60-70 yuan/mt against the 2607 contract..

6 mins ago

Futures zinc price stays high, spot premiums struggle to rise [SMM Ningbo Spot Weekly Review]

[Futures zinc prices stay high, spot premiums struggle to rise]: This week, Ningbo spot premiums remained stable, with the WoW average price basically flat. As of this Friday, Ningbo spot against the 2607 contract was quoted at a discount of 40 yuan/mt, and the premium against Shanghai was 30 yuan/mt. During the week, the premium against Shanghai maintained a fluctuating trend..

6 mins ago