Zinc social inventories fell 5,700 mt over weekend

SHANGHAI, Mar 29 (SMM) – Zinc inventories in China fell over the weekend.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 5,700 mt from last Friday March 26 to 242,300 mt as of Monday March 29. The stocks were down 14,200 mt from March 22.

Stocks in Shanghai decreased as the inflow of import zinc slowed down and downstream restocking increased when zinc prices fell. In south China's Guangdong, arrivals at smelters fell and downstream demand improved, which led to the decrease in stocks. Stocks in Tianjin went down as the maintenance of some smelters affected the arrivals with tepid downstream demand.

Compared to last Thursday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) decreased 5,300 mt.