SHANGHAI, Nov 18 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased by 200 mt from last Friday November 15 and 5,500 mt from last Monday November 11 to 134,900 mt as of November 18, showed SMM data.
Shanghai contributed to the inventory decline, shrinking 2,200 mt over the weekend, as downstream consumers were keen to restock while arrivals of seaborne materials remained limited.
Stocks in Guangdong rose over the weekend, as arrivals increased after the spreads between Guangdong and Shanghai prices narrowed.
Downstream consumers in Tianjin, meanwhile, remained cautious about procurement, leading to higher inventories.
