Pre-holiday purchases lower zinc social inventories

SHANGHAI, Apr 29 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin decreased by 5,200 mt from Friday April 26, and by 14,100 mt from Monday April 22, to stand at 168,600 mt as of Monday April 29, SMM data showed. 

Stockpiling by downstream consumers before the Labour Day holiday and limited arrivals from smelters and the overseas accounted for the lower inventories. 

SMM expects stable production at smelters during the holiday to expand stocks in the week ahead.