Limited arrivals extend declines in  zinc social inventories

SHANGHAI, Jul 29 (SMM) – Zinc social inventories across Shanghai, Tianjin and Guangdong extended their declines over the weekend, as warehouses saw limited arrivals, either seaborne materials or cargoes from domestic smelters amid maintenance.

SMM data showed that stocks across the three areas decreased by 100 mt from Friday July 26 and by 6,700 mt from Monday July 22 to stand at 144,400 mt as of Monday July 29.

Downstream consumers continued to purchase as demand, and this also prevented stocks from building up.