Zinc inventory edges down with limited imports

SHANGHAI, Jul 23 (SMM) – Zinc social inventory in Shanghai, Guangdong, and Tianjin fell some 2,700 mt from last Friday to 97,300 mt as of Monday July 23, SMM data showed. 

A drop of 4,100 mt was seen in Shanghai due to limited arrivals from smelters and less-than-expected inflow of imported materials. This led to the overall decline.

Inventories rose just 700 mt each in Tianjin and Guangdong, as smelters destocked when prices picked up, and as local environmental probes affected downstream consumption.