Zinc social inventories expanded 2,500 mt on week

SHANGHAI, Nov 13 (SMM) – Zinc inventories in China rose moderately this week, with stocks in Tianjin rising relatively sharply.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 2,500 mt in the week ended November 13 to 167,700 mt. The stocks fell 2,000 mt from Monday November 9.

Stocks in Shanghai decreased sharply due to limited inflow of imported zinc and increased cargoes shipped to Jiangsu and Zhejiang. In south China's Guangdong, decreased arrivals and relatively stable downstream demand led to the slight decline in local zinc inventories. Stocks in Tianjin continued to pile up as downstream orders seasonally weakened and environmental protection and limited production affected market demand.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 700 mt this week, after a 100 mt decrease last week.