Zinc social inventories rose 1,000 mt over weekend

SHANGHAI, Nov 23 (SMM) – Zinc inventories in China rose slightly over the weekend, primarily propelled by an increase in Shanghai and Guangdong.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 1,000 mt from last Friday November 20 to 176,100 mt as of Monday November 23. The stocks were up 10,000 mt from last Monday November 16.

Stocks in Shanghai increased slightly due to relatively large import loss and limited inflow of imported zinc. In south China's Guangdong, increased arrivals led to the slight increase in local zinc inventories. Stocks in Tianjin remained unchanged as the heavy snow weather affected the arrivals with sluggish procurement for downstream rigid demand.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) increased 1,100 mt.