Zinc Social Inventories Shrank 200 mt over Weekend

SHANGHAI, Jul 26 (SMM) – Zinc ingots inventory in seven locations across China totalled 115,700 mt as of July 26, down 200 mt from last Friday (July 23) and fell 1200 mt on week.

Inventory shrink during the weekend was mainly caused by slight drop in Shanghai as a result of recent rainy days that interrupted market arrivals as well as rigid demands from downstream market; decreased inventory in Tianjin that resulted from recovered steel prices and improved downstream order book. While the inventory in Guangdong increased due to added market arrivals.

All in all, the combined inventory in Shanghai, Guangdong and Tianjin decreased 1100 mt, and those in the seven locations across China recorded a loss of 200 mt.