Zinc social inventories shrank 500 mt over weekend

SHANGHAI, Dec 21(SMM) – Zinc inventories in China fell over the weekend, primarily propelled by a decrease in Guangdong.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 500 mt from last Friday December 18 to 154,000 mt as of Monday December 21. The stocks were down 9,100 mt from last Monday December 14.

Stocks in Shanghai increased slightly due to relatively stable arrivals. In south China's Guangdong, large shipments led to the continuous decline in local zinc inventories. Stocks in Tianjin continued to rise as arrivals of smelters increased amid weak downstream demand.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) increased 1,100 mt.