Chinese zinc ingot market holds negative attitudes
2024-03-28 08:28:23 [Print]
BEIJING (Asian Metal) 28 Mar 24 – Most market participants hold negative attitudes towards zinc ingot and predict that the mainstream prices of zinc ingot would edge down further in the coming two days. The current mainstream prices of Chinese zinc ingot 99.995%min stand at RMB20,450-20,750/t (USD2,825-2,866/t) EXW D/P, down by about RMB400/t (USD55/t) from yesterday.
A producer in Inner Mongolia noted that they quoted about RMB20,750/t (USD2,866/t) EXW D/P for zinc ingot 99.995%min today with no concessions, while they would like to sell at RMB21,150/t (USD2,921/t) yesterday. "We only sold about 100t at RMB20,750/t (USD2,866/t) today and sold about 500t at RMB21,150/t (USD2,921/t) yesterday, most buyers hold back from purchasing as prices decreased", said the producer, who anticipates that the mainstream prices of Chinese zinc ingot would edge down further in the coming two days.
On basis of annual production capacity of 220,000t of zinc ingot, the producer would produce about 20,000t in March, stable from last month. They achieved an output of about 200,000t in 2023 and about 60,000t so far in 2024. They hold about 2,000t of stocks at the moment, unchanged MoM.
Another producer in Hunan noted that they quoted RMB20,450/t (USD2,825/t) EXW D/P for zinc ingot 99.995%min today, but they refused prices less than RMB20,860/t (USD2,881/t) yesterday. "We sold about 150t at RMB20,450/t (USD2,825/t) today and sold about 60t at RMB20,860/t (USD2,881/t) yesterday", said the producer. They anticipate that the mainstream prices of Chinese zinc ingot would decrease slightly in the coming two days.
The producer, with an annual production capacity of 50,000t of zinc ingot, plans to produce about 1,800t in March, up by about 1,200t from last month. They hold no inventories presently, identical to late last month.
A producer in Inner Mongolia noted that they quoted about RMB20,750/t (USD2,866/t) EXW D/P for zinc ingot 99.995%min today with no concessions, while they would like to sell at RMB21,150/t (USD2,921/t) yesterday. "We only sold about 100t at RMB20,750/t (USD2,866/t) today and sold about 500t at RMB21,150/t (USD2,921/t) yesterday, most buyers hold back from purchasing as prices decreased", said the producer, who anticipates that the mainstream prices of Chinese zinc ingot would edge down further in the coming two days.
On basis of annual production capacity of 220,000t of zinc ingot, the producer would produce about 20,000t in March, stable from last month. They achieved an output of about 200,000t in 2023 and about 60,000t so far in 2024. They hold about 2,000t of stocks at the moment, unchanged MoM.
Another producer in Hunan noted that they quoted RMB20,450/t (USD2,825/t) EXW D/P for zinc ingot 99.995%min today, but they refused prices less than RMB20,860/t (USD2,881/t) yesterday. "We sold about 150t at RMB20,450/t (USD2,825/t) today and sold about 60t at RMB20,860/t (USD2,881/t) yesterday", said the producer. They anticipate that the mainstream prices of Chinese zinc ingot would decrease slightly in the coming two days.
The producer, with an annual production capacity of 50,000t of zinc ingot, plans to produce about 1,800t in March, up by about 1,200t from last month. They hold no inventories presently, identical to late last month.
