Zinc social inventories rose 4,500 mt over weekend

SHANGHAI, Dec 14 (SMM) – Zinc inventories in China increased over the weekend.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei expanded by 4,500 mt from last Friday December 11 to 163,100 mt as of Monday December 14. The stocks were down 2,000 mt from last Monday December 7. 

With slightly higher arrivals of cargoes at markets and subdued downstream demand by rising zinc prices, stocks in Shanghai increased over the weekend. Inventories in Guangdong built up as arrivals of cargoes at local markets rose significantly. Weakened downstream demand led to the increase in stocks in Tianjin.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) expanded 5,100 mt.