Zinc social inventories fell 6,600 mt over weekend

Published: Apr 20, 2020 13:15

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Zinc inventories in China extended their declines over the weekend on the back of stable shipments. SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 265,600 mt as of Monday April 20, down 6,600 mt from Friday April 17 and down 18,000 mt from Monday April 13.

SHANGHAI, Apr 20 (SMM) – Zinc inventories in China extended their declines over the weekend on the back of stable shipments.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 265,600 mt as of Monday April 20, down 6,600 mt from Friday April 17 and down 18,000 mt from Monday April 13.

Guangdong and Tianjin accounted for most of the declines in overall inventories during the weekend. Shipments from Guangdong were at high levels as cargoes were partially moved to Zhejiang and Fujian and some alloy producers in Hunan procured raw materials from Guangdong. Stocks in Tianjin shrank as downstream consumers ramped up restocking last Friday.

Inventories in Shanghai, meanwhile, edged higher over the weekend amid stable arrivals and on-demand purchases.

Compared to last Friday, social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased 6,700 mt.

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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