Inflows of imports, preholiday stockpiling holds zinc social inventories steady

Published: Sep 28, 2018 13:38

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Social inventories came in at 121,300 mt as of Friday Sep 28, up 2,000 mt from last Friday but down 5,400 mt from Tuesday

SHANGHAI, Sep 28 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong came in at 121,300 mt as of Friday September 28, up 2,000 mt from last Friday but down 5,400 mt from Tuesday, SMM data showed.

An open import arbitrage window encouraged importers to pour their cargoes that were stored in bonded warehouses into the domestic market and this grew zinc inventories across social warehouses.

Meanwhile, downstream consumers stockpiled ahead of the week-long National Day holiday and this lowered the inventories.

SMM expects gains in zinc social inventories across the three regions after the holiday week as most smelters would keep normal production during that period.

Inventory data Zinc

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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