SHANGHAI, Jan 18 (SMM) – Zinc inventories in China fell over the weekend, primarily propelled by a decrease in Shanghai and Tianjin.
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 1,100 mt from last Friday January 15 to 144,700 mt as of Monday January 18. The stocks were down 9,300 mt from last Monday January 11.
Stocks in Shanghai decreased slightly as downstream restocked when zinc prices fell despite the increased arrivals at smelters and the inflow of imported zinc. In south China's Guangdong, low inventories lifted up the shipments at smelters, prompting stocks to rebound. Stocks in Tianjin fell as arrivals decreased with sluggish transaction prices and downstream rigid demand shrank.
Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) decreased 500 mt.
