Zinc social inventories rose 9,300 mt over the holiday

SHANGHAI, May 6 (SMM) – Zinc inventories in China rose over the five-day Labour Day holidays, propelled by a substantial increase in Tianjin as deliveries from Guangdong and Shanghai arrived.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 236,200 mt as of Wednesday May 6, up 9,300 mt from Thursday April 30 but down 1,300 mt from Monday April 27.

Zinc stocks in Guangdong inched up over the holiday as downstream consumers scaled back procurement, while stocks in Shanghai continued to decline as consumers there continued their on-demand procurement mode.

Compared to Thursday April 30, social inventories of refined zinc across Shanghai, Tianjin and Guangdong increased 9,100 mt, after a decline of 14,900 mt between April 24 and April 30.