Amid weakening demand and shifting market dynamics, both Chinese and South Korean zinc ingot markets faced mounting pressure in mid-April, reflecting broader regional uncertainty.
Key Takeaways
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China鈥檚 zinc ingot prices dropped significantly in the second week of April due to weak demand and rising inventories.
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Korean demand slumped as importers held back on new purchases due to uncertain industrial prospects.
In China, downstream companies showed limited buying interest, working through existing stock with average spot activity. The slight price rebound in the previous weeks tempered downstream purchases, causing a minor inventory build. Brief import opportunities narrowed spot premiums.
In Shanghai, traders witnessed lower spot premiums m-o-m due to cautious downstream buyers and moderate trading. At the same time, Guangdong&#xx;s market fluctuated with subdued activity as downstream held ample low-cost inventory. Tianjin&#xx;s volatile zinc ingot prices kept downstream buyers wary despite limited spot supply and firm trader...
