Imports, cargoes from smelters grow zinc social stocks across Shanghai, Tianjin, Guangdong

SHANGHAI, Sep 21 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong stood at 119,400 mt as of Friday September 21, up some 1,500 mt from a week ago and up about 2,400 mt from Monday, SMM data showed.

Arrivals of imported materials grew the stocks in Shanghai, but downstream purchases limited the growth. Stocks in Tianjin increased on arrivals from smelters including Zijin and Hongye. Stocks in Guangdong shrank as production at some smelters across the region was impacted by maintenance and Typhoon Mangkhut and as downstream consumers made some purchases.

SMM expects social inventories across the three regions to decrease next week as some downstream consumers would stockpile ahead of the week-long National Day holiday.