Little improvement in Chinese zinc ingot market
2014-02-17 09:26:34 [Print]
BEIJING (Asian Metal) 17 Feb 14 - Chinese zinc ingot price kept fluctuating narrowly and participants came back to the market from the Spring Festival holiday in succession. However, the demand remained weak and there was still little improvement in the market.
A producer from Liaoning offered SHG zinc ingot at about RMB15,800/t (USD2,586/t) ex works last Friday, RMB800/t (USD131/t) higher than the mainstream market price, and the price was relatively stable last week. “We are active in selling zinc ingot, but the purchasing activities are very sluggish, so trading keeps weak in the spot market,” said the source.
He thinks the demand will not get better obviously and trading may keep weak in the following two weeks. The zinc smelter is operating with the output of 20,000tpm based on the capacity of 250,000tpy.
A trader from Zhejiang with the sales volume of 2,000-3,000tpm offered SHG zinc ingot at about RMB15,000/t (USD2,455/t) in the spot market last Friday, down slightly by RMB20/t (USD3/t) compared with that last Thursday. However, they only sold 100t of zinc ingot last week.
“Most customers have not resumed production, and the demand will keep weak in the second half of February, so I think there will be little improvement in zinc ingot market in the near term,” said the source.
A producer from Liaoning offered SHG zinc ingot at about RMB15,800/t (USD2,586/t) ex works last Friday, RMB800/t (USD131/t) higher than the mainstream market price, and the price was relatively stable last week. “We are active in selling zinc ingot, but the purchasing activities are very sluggish, so trading keeps weak in the spot market,” said the source.
He thinks the demand will not get better obviously and trading may keep weak in the following two weeks. The zinc smelter is operating with the output of 20,000tpm based on the capacity of 250,000tpy.
A trader from Zhejiang with the sales volume of 2,000-3,000tpm offered SHG zinc ingot at about RMB15,000/t (USD2,455/t) in the spot market last Friday, down slightly by RMB20/t (USD3/t) compared with that last Thursday. However, they only sold 100t of zinc ingot last week.
“Most customers have not resumed production, and the demand will keep weak in the second half of February, so I think there will be little improvement in zinc ingot market in the near term,” said the source.
Zinc Ingot 99.995%min In warehouse Guangzhou
Unit:RMB/mt
China refined zinc producers' operating rate statistics by province by month
Unit: %
