Limited arrivals from smelters lower zinc social stocks during holiday

SHANGHAI, Apr 8 (SMM) – Fewer deliveries from smelters during the Qingming Festival holiday, the recovery of downstream demand, and limited seaborne arrivals continued to lower social inventories of refined zinc as of Monday April 8. 

Social inventories of refined zinc across Shanghai, Guangdong and Tianjin decreased by 1,200 mt from pre-holiday Thursday April 4 and by 7,600 mt from Monday April 1 to stand at 202,900 mt as of Monday April 8, SMM data showed. 

Lower inventories in Shanghai accounted for most of the declines. SMM expects zinc social inventories to extend their drops this week.