Zinc social inventories shrank 16,100 mt on week

SHANGHAI, Jun 11 (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 16,100 mt in the week ended June 11 to 136,100 mt. The stocks fell 6,600 mt from Monday June 7.

Stocks in Shanghai decreased slightly as arrivals of import zinc increased and the downstream still had stockpiling demand before the holiday. In south China's Guangdong, the proportion of direct delivery to the downstream of smelters decreased, while the delivery of goods from warehouses in the downstream increased, which led to the continuous decrease in stocks. Stocks in Tianjin fell as zinc prices fell sharply yesterday, and the downstream purchases at low prices increased.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 15,800 mt this week, after a 2,600 mt decrease last week.