Zinc social inventories shrank 2,700 mt on week

SHANGHAI, Nov 27 (SMM) – Zinc inventories in China fell this week, with stocks in Shanghai, Tianjin and Guangdong decreasing relatively sharply.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 2,700 mt in the week ended November 27 to 172,400 mt. The stocks fell 3,700 mt from Monday November 23.

Stocks in Shanghai decreased slightly due to smelters’maintenance affecting arrivals and limited inflow of imported zinc. In south China's Guangdong, decreased arrivals and generally stable downstream demand led to the decline in local zinc inventories. Stocks in Tianjin started to fall as the heavy snow weather affected arrivals and the downstream stockpiled mainly for rigid demand.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 3,300 mt this week, after a 6,900 mt increase last week.