Zinc social inventories shrank 14,500 mt on week

SHANGHAI, Apr 2 (SMM) – Zinc inventories in China fell this week.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 14,500 mt in the week ended April 2 to 233,500 mt. The stocks fell 8,800 mt from Monday March 29.

Stocks in Shanghai decreased due to increasing purchase volume of the downstream when zinc prices fell. In south China's Guangdong, market arrivals decreased with stable downstream demand, which led to the continuous decrease in stocks. Stocks in Tianjin fell as downstream restocking demand increased and the maintenance of smelters in Inner Mongolia affected market arrivals.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 13,700 mt this week, after a 10,700 mt decrease last week.