SHANGHAI, Feb 10 (SMM) – Zinc inventories in China extended their gains over the weekend, as rail transportation maintained normal operation and as only a limited number of downstream consumers resumed production amid the epidemic outbreak
SMM data showed that social inventories of refined zinc across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 14,400 mt from Friday February 7 to 231,700 mt as of Monday February 10. Compared to a week earlier, the stocks climbed 42,700 mt.
Shanghai primarily contributed to the gain in inventories over the weekend. While the epidemic affected road transportation, shipping by rail felt limited impact. Inventories are expected to continue to trend higher as most of downstream consumers remain shut.
Over the weekend, social inventories of refined zinc across Shanghai, Tianjin and Guangdong rose 13,500 mt.
