Chinese zinc ingot market holds positive attitudes
2024-05-01 09:37:59 [Print]
BEIJING (Asian Metal) 1 May 24 - Most market participants hold positive attitudes towards zinc ingot market and predict that the mainstream prices of Chinese zinc ingot would edge up further in the coming week. The current mainstream prices of Chinese zinc ingot 99.995%min stand at RMB23,300-23,400/t (USD3,209-3,223/t) EXW D/P, up by about RMB620/t (USD85/t) from yesterday.
A producer in Inner Mongolia notes that they quote RMB23,340/t (USD3,215/t) EXW D/P for zinc ingot 99.995%min today and could accept prices no less than RMB23,320/t (USD3,212/t) for firm bids, while they refused prices less than RMB22,680/t (USD3,124/t) yesterday. "We sold about 600t at RMB23,320/t (USD3,212/t) to traders today and sold about 400t at RMB22,680/t (USD3,124/t) yesterday", said the producer, who holds positive attitudes and predicts that the mainstream prices of Chinese zinc ingot would edge up further in the coming week.
The producer, with an annual production capacity of 240,000t of zinc ingot, would produce about 18,000t in April, almost stable from last month. They produced about 72,000t in the first four months 2024 and nearly 200,000t in 2023. They hold no inventories presently, unchanged MoM.
"We would like to sell zinc ingot 99.995%min at RMB23,400/t (USD3,223/t) EXW D/P today, while our best price stood at RMB22,760/t (USD3,135/t) yesterday", another producer in Jiangxi disclosed. They sold about 300t at RMB23,400/t (USD3,223/t) today and sold about 400t at RMB22,760/t (USD3,135/t) yesterday." They predict that the mainstream prices of Chinese zinc ingot would edge up further in the coming week as most market participants hold positive attitudes.
Based on an annual production capacity of 120,000t of zinc ingot, the producer plans to produce about 10,000t in April, almost identical to last month. Their output recorded almost 39,000t so far in 2024 and about 120,000t in 2023. They hold no stocks at the moment, stable from late last month.
A producer in Inner Mongolia notes that they quote RMB23,340/t (USD3,215/t) EXW D/P for zinc ingot 99.995%min today and could accept prices no less than RMB23,320/t (USD3,212/t) for firm bids, while they refused prices less than RMB22,680/t (USD3,124/t) yesterday. "We sold about 600t at RMB23,320/t (USD3,212/t) to traders today and sold about 400t at RMB22,680/t (USD3,124/t) yesterday", said the producer, who holds positive attitudes and predicts that the mainstream prices of Chinese zinc ingot would edge up further in the coming week.
The producer, with an annual production capacity of 240,000t of zinc ingot, would produce about 18,000t in April, almost stable from last month. They produced about 72,000t in the first four months 2024 and nearly 200,000t in 2023. They hold no inventories presently, unchanged MoM.
"We would like to sell zinc ingot 99.995%min at RMB23,400/t (USD3,223/t) EXW D/P today, while our best price stood at RMB22,760/t (USD3,135/t) yesterday", another producer in Jiangxi disclosed. They sold about 300t at RMB23,400/t (USD3,223/t) today and sold about 400t at RMB22,760/t (USD3,135/t) yesterday." They predict that the mainstream prices of Chinese zinc ingot would edge up further in the coming week as most market participants hold positive attitudes.
Based on an annual production capacity of 120,000t of zinc ingot, the producer plans to produce about 10,000t in April, almost identical to last month. Their output recorded almost 39,000t so far in 2024 and about 120,000t in 2023. They hold no stocks at the moment, stable from late last month.
