Zinc ingot trading keeps sluggish in China
2014-01-06 09:10:57 [Print]
BEIJING (Asian Metal) 6 Jan 14 - The demand for zinc ingot keeps weak and it will become weaker in the second half of January as many downstream plants will stop production for the Spring Festival holiday. In this case, consumers are inactive in purchasing zinc ingot and trading keeps sluggish.
A trader from Shanghai offered SHG zinc ingot with Shuangyan brand at RMB15,140/t (USD2,482/t) last Friday, down by RMB30/t (USD5/t) compared with that on Thursday. “Many participants just came back to the market from the New Year holiday, and they would like to watch the market, so trading was sluggish in the spot market,” said the source.
They usually sell 30,000-40,000t of zinc ingot per month but the sales volume will drop in January due to the softening demand.
A trader from Guangdong offered SHG zinc ingot at RMB15,060-15,080/t (USD2,469-2,472/t) in the spot market last Friday, down by about RMB30/t (USD5/t) compared with that on Thursday. “The market keeps sluggish and some small-sized zinc alloy plants have been out of production, so the demand for zinc ingot is weak and trading keeps sluggish,” said the source. The sales volume kept below 100tpd recently.
The source thinks zinc price will not increase in January as there is little favorable economic news and the fundamental keeps weak.
A trader from Shanghai offered SHG zinc ingot with Shuangyan brand at RMB15,140/t (USD2,482/t) last Friday, down by RMB30/t (USD5/t) compared with that on Thursday. “Many participants just came back to the market from the New Year holiday, and they would like to watch the market, so trading was sluggish in the spot market,” said the source.
They usually sell 30,000-40,000t of zinc ingot per month but the sales volume will drop in January due to the softening demand.
A trader from Guangdong offered SHG zinc ingot at RMB15,060-15,080/t (USD2,469-2,472/t) in the spot market last Friday, down by about RMB30/t (USD5/t) compared with that on Thursday. “The market keeps sluggish and some small-sized zinc alloy plants have been out of production, so the demand for zinc ingot is weak and trading keeps sluggish,” said the source. The sales volume kept below 100tpd recently.
The source thinks zinc price will not increase in January as there is little favorable economic news and the fundamental keeps weak.
Zinc Ingot 99.995%min In warehouse Tianjin
Unit:RMB/mt
China's refined zinc producers' sales to production ratio statistics by province by month
Unit: %
