Zinc social inventories dipped 1,600 mt over weekend

SHANGHAI, Jul 20 (SMM) – Zinc inventories in China fell over the weekend, primarily propelled by the loss in Shanghai as heavy rain and floods affected deliveries and as inflows of imported materials were limited.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 1,600 mt from last Friday July 17 to 205,100 mt as of Monday July 20. The stocks were down 9,100 mt from last Monday July 13.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 2,300 mt.

Stocks in south China’s Guangdong were little changed over the weekend as high arrivals were offset by dip-purchases, while stocks in north China’s Tianjin dipped as downstream consumers stepped up purchases after prices pulled back.