SHANGHAI, Jun 24 (SMM) – Zinc social inventories shrank over the weekend as lower futures prices of zinc, below the 2,000 yuan/mt level, prompted downstream consumers to stockpile. Limited arrivals in Tianjin and Guangdong also lowered inventories.
SMM data showed that social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased by 1,600 mt from Friday June 21, and by 4,600 mt from Monday June 17, to stand at 153,700 mt as of Monday June 24.
Inventories in Guangdong and Tianjin extended their declines, while an inflow of imported materials grew stocks in Shanghai as of Monday June 24.
