Chinese zinc ingot premium stable
2017-12-28 08:42:37 [Print]
BEIJING (Asian Metal) 28 Dec 17 - During Monday and Wednesday, LME was closed for the Christmas holiday. Chinese zinc ingot deals premium was stable at around RMB100/t (USD15/t) in South China and contango was stable at RMB30-40/t (USD5-6/t) in East China. As December is coming to an end, it is predicted that premium and contango will be unchanged late this week.
A trader in Guangdong noted that they sold around 1,000t of zinc ingot from Monday to Wednesday this week with premium at around RMB100/t (USD15/t). "The premium was stable this week, but dropped by RMB100/t (USD15/t) compared to last week," said the source, adding that they sold around 1,500t last week.
According to the source, the demand and deals were stable this week and he anticipated a stable market late this week. Based on the regular sales volume of 10,000tpm, the trader sold around 12,000t of zinc ingot in 2017 and holds around 1,000t in stock.
Another trader in Shanghai confirmed that the contango was stable at RMB30-40/t (USD5-6/t) from Monday and Wednesday. "We sold around 1,000t over the past three days and total volume may reach 1,500t this week, the same with last week," said the source, noting that their regular weekly sales volume is 1,500t and hold no stock now.
The trader explained that LME was not open during the Christmas holiday, so Chinese zinc ingot market was stable, and he predicted that there may have no change for contango late this week, as December is coming to an end.
A trader in Guangdong noted that they sold around 1,000t of zinc ingot from Monday to Wednesday this week with premium at around RMB100/t (USD15/t). "The premium was stable this week, but dropped by RMB100/t (USD15/t) compared to last week," said the source, adding that they sold around 1,500t last week.
According to the source, the demand and deals were stable this week and he anticipated a stable market late this week. Based on the regular sales volume of 10,000tpm, the trader sold around 12,000t of zinc ingot in 2017 and holds around 1,000t in stock.
Another trader in Shanghai confirmed that the contango was stable at RMB30-40/t (USD5-6/t) from Monday and Wednesday. "We sold around 1,000t over the past three days and total volume may reach 1,500t this week, the same with last week," said the source, noting that their regular weekly sales volume is 1,500t and hold no stock now.
The trader explained that LME was not open during the Christmas holiday, so Chinese zinc ingot market was stable, and he predicted that there may have no change for contango late this week, as December is coming to an end.
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Unit:RMB/mt
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