SHANGHAI, Dec 28 (SMM) – Downstream restocking ahead of the New Year's Day holiday and year-end purchases for long-term contracts extended declines in zinc social stocks, SMM data showed.
Social inventories of refined zinc across Shanghai, Guangdong and Tianjin came in at 87,000 mt as of Friday December 28, down some 7,000 mt from Monday December 24 and down 10,300 mt from last Friday, according to SMM data.
Limited arrivals of imported and domestic products also accounted for the drop. While some spot cargoes from Tianjin were delivered to Shanghai this week, inventories across Shanghai warehouses shrank from downstream restocking.
