Zinc social inventories added 5,400 mt on weekend

SHANGHAI, Dec 24 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 118,700 mt as of Monday December 23, up 5,400 mt from Friday December 20 and up 600 mt from Monday December 16, showed SMM data.

The inventories shrank 2,000 mt week on week to 113,300 mt as of Friday December 20.

While solid demand reduced inventories in Guangdong, stocks in the other six areas registered increases.

Slower consumption from downstream buyers buoyed inventories in Shanghai, and the arrival of a batch of Zijin and Baiyin Zinc grew Tianjin stocks over the weekend. 

As of December 23, social inventories of refined zinc across Shanghai, Tianjin and Guangdong climbed 4,000 mt from last Friday.