Chinese zinc ingot market holds positive attitudes
2024-04-03 08:25:06 [Print]
BEIJING (Asian Metal) 3 Apr 24 – Most Chinese zinc ingot participants hold positive attitudes and predict that the mainstream prices of Chinese zinc ingot would edge up in the coming week. The current mainstream prices of zinc ingot 99.995%min stand at RMB20,850-20,950/t (USD2,872-2,886/t) D/P in Tianjin warehouse, up by about RMB110/t (USD15/t) from yesterday.
"We quoted RMB20,920/t (USD2,882/t) D/P in Tianjin warehouse for zinc ingot 99.995%min today and could accept RMB20,910/t (USD2,880/t) for firm bids, while we refused prices less than RMB20,800/t (USD2,865/t) yesterday", a trader in Tianjin noted. They sold about 200t at RMB20,910/t (USD2,880/t) today and sold about 100t at RMB20,800/t (USD2,865/t) yesterday. Despite that most of their clients hold low operation rate now due to weak demand, they hold positive attitudes towards zinc ingot market and predict that the mainstream prices of Chinese zinc ingot would edge up in the coming week.
On basis of a regular monthly sales volume about 20,000t of zinc ingot, the trader predicts to sell about 20,000t in April, stable from last month. They hold about 3,000t of stocks at the moment, unchanged MoM.
Another trader in Tianjin disclosed that they offered RMB20,940/t (USD2,884/t) D/P in Tianjin warehouse for zinc ingot 99.995%min today and would like to sell at RMB20,920/t (USD2,882/t) for firm bids, while they would not consider prices less than RMB20,810/t (USD2,866/t) yesterday. "We sold about 400t at RMB20,920/t (USD2,882/t) today and sold about 400t at RMB20,810/t (USD2,866/t) yesterday", said the trader, who holds positive attitudes and anticipates that the mainstream prices of Chinese zinc ingot would edge up in the week to come.
The trader, with a regular monthly sales volume about 10,000t of zinc ingot, would sell about 10,000t in April, almost stable from last month, but down by 2,000t YoY. They hold about 2,000t of stocks at the moment, stable from early last month.
"We quoted RMB20,920/t (USD2,882/t) D/P in Tianjin warehouse for zinc ingot 99.995%min today and could accept RMB20,910/t (USD2,880/t) for firm bids, while we refused prices less than RMB20,800/t (USD2,865/t) yesterday", a trader in Tianjin noted. They sold about 200t at RMB20,910/t (USD2,880/t) today and sold about 100t at RMB20,800/t (USD2,865/t) yesterday. Despite that most of their clients hold low operation rate now due to weak demand, they hold positive attitudes towards zinc ingot market and predict that the mainstream prices of Chinese zinc ingot would edge up in the coming week.
On basis of a regular monthly sales volume about 20,000t of zinc ingot, the trader predicts to sell about 20,000t in April, stable from last month. They hold about 3,000t of stocks at the moment, unchanged MoM.
Another trader in Tianjin disclosed that they offered RMB20,940/t (USD2,884/t) D/P in Tianjin warehouse for zinc ingot 99.995%min today and would like to sell at RMB20,920/t (USD2,882/t) for firm bids, while they would not consider prices less than RMB20,810/t (USD2,866/t) yesterday. "We sold about 400t at RMB20,920/t (USD2,882/t) today and sold about 400t at RMB20,810/t (USD2,866/t) yesterday", said the trader, who holds positive attitudes and anticipates that the mainstream prices of Chinese zinc ingot would edge up in the week to come.
The trader, with a regular monthly sales volume about 10,000t of zinc ingot, would sell about 10,000t in April, almost stable from last month, but down by 2,000t YoY. They hold about 2,000t of stocks at the moment, stable from early last month.
