Zinc social inventories gained 5,600 mt over weekend

SHANGHAI, Mar 16 (SMM) – Zinc inventories in China continued to trend higher over the weekend, as arrivals at south China increased and as limited cargoes were delivered from warehouses in the south and east.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 340,500 mt as of Monday March 16, up 5,600 mt from Friday March 13 and 2,600 mt from Monday March 9.

Compared to Shanghai and Guangdong, Tianjin saw a much smaller gain in zinc stocks over the weekend, as major smelters in north China suspended or curtailed production.

Compared to last Friday, social inventories of refined zinc across Shanghai, Tianjin and Guangdong increased 4,800 mt.