Zinc ingot prices retreat in China
2013-12-27 13:48:10 [Print]
BEIJING (Asian Metal) 27 Dec 13 - London Metal Exchange closes and trading keeps sluggish in the metal market during the Christmas holiday. In this case, zinc ingot price retreated in China on Thursday. Some consumers would like to purchase at the lower price, but some would like to watch the market.
A trader from Shanghai offered SHG zinc ingot with Shuangyan brand at RMB15,190/t (USD31/t) in the spot market on Thursday, down by about RMB100/t (USD16/t) compared with that on Wednesday. “Some buyers were active in purchasing zinc ingot at the lower price today as they worried that the price will rebound in the following days. Therefore, trading got a little better,” said the source.
They sold about 4,000t of zinc ingot on Thursday. The source thinks the sales volume will drop slightly next week as the New Year is approaching.
A producer from Jiangxi offered SHG zinc ingot at RMB15,200/t (USD2,484/t) ex works on Thursday, down by RMB50/t (USD8/t) compared with that on Wednesday. They mainly sell zinc ingot in the local place or the nearby provinces, but the source said that trading was sluggish recently. The price is not stable, so some buyers would like to watch the market.
“Zinc price keeps at a low level, and we still suffer losses in 2013,” said the source. “I think the market will keep sluggish in 2014 due to the weak economic environment in China.” They produce about 5,000t of zinc ingot in December, down by 1,000t compared with that in November, based on the full capacity of 100,000tpy. They usually hold few stocks.
A trader from Shanghai offered SHG zinc ingot with Shuangyan brand at RMB15,190/t (USD31/t) in the spot market on Thursday, down by about RMB100/t (USD16/t) compared with that on Wednesday. “Some buyers were active in purchasing zinc ingot at the lower price today as they worried that the price will rebound in the following days. Therefore, trading got a little better,” said the source.
They sold about 4,000t of zinc ingot on Thursday. The source thinks the sales volume will drop slightly next week as the New Year is approaching.
A producer from Jiangxi offered SHG zinc ingot at RMB15,200/t (USD2,484/t) ex works on Thursday, down by RMB50/t (USD8/t) compared with that on Wednesday. They mainly sell zinc ingot in the local place or the nearby provinces, but the source said that trading was sluggish recently. The price is not stable, so some buyers would like to watch the market.
“Zinc price keeps at a low level, and we still suffer losses in 2013,” said the source. “I think the market will keep sluggish in 2014 due to the weak economic environment in China.” They produce about 5,000t of zinc ingot in December, down by 1,000t compared with that in November, based on the full capacity of 100,000tpy. They usually hold few stocks.
Zinc Ingot 99.995%min In warehouse Tianjin
Unit:RMB/mt
China refined zinc producers' inventory to production ratio statistics by province by month
Unit: %
