Zinc social inventories shrank 6,000 mt on week

SHANGHAI, May 14 (SMM) – Zinc inventories in China rose this week.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 6,000 mt in the week ended May 14 to 176,300 mt. The stocks fell 11,600 mt from Monday May 10.

Stocks in Shanghai decreased downstream restocked when zinc prices fell. In south China's Guangdong, market arrivals improved and downstream purchased at low prices, which led to the continuous decrease in stocks. Stocks in Tianjin fell sharply as downstream concerned that prices continued to go up, and purchased more when prices went down.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 6,000 mt this week, after a 2,200 mt increase last week.