Zinc social inventories fell 14,600 mt on week

SHANGHAI, Dec 13 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 115,300 mt as of Friday December 13, down 14,600 mt from Friday December 6 and 11,000 mt from Monday December 9, showed SMM data.

Tianjin and Zhejiang accounted for most of the inventory decline. Environmental production curbs in Tianjin barely affected downstream procurement, with large-scale galvanising plants restocking on lower prices. Smaller arrivals, together with improved orders from die casting zinc alloy producers in Ningbo reduced stocks in Zhejiang. 

Healthy downstream demand in Shanghai and Guangdong also contributed to the overall decline in inventories. 

As of December 13, social inventories of refined zinc across Shanghai, Tianjin and Guangdong shrank 9,700 mt from a week earlier.