China has stepped up domestic output of refined zinc this year, but the Shanghai market continues to be plagued by low inventory and tight time-spreads.
China's imports, exports and net trade in refined zincRETURN TO THE IMPORT MARKETChina was a consistent net importer of refined zinc over the last decade, but that changed in 2022.
Shanghai zinc stocks seasonal patterns over 2020-2023LOW INVENTORYShFE registered stocks stand at a modest 43,181 tons.
Sentiment, however, holds the real key to the Shanghai premium.
The country's trade in refined zinc may prove a useful mirror on that question over the next few months.
Persons:
Cash, It's, Jan Harvey
Organizations:
Share, Shanghai Futures Exchange, London Metal Exchange, Shanghai Metal, Citi, Reuters, Thomson
Locations:
Eritrea's, Asmara, Eritrea, China, Shanghai, Europe, Turkey, U.S, Antwerp, Singapore, Malaysia's Port Klang, Kaohsiung, Guangdong, London