Zinc social inventories rose 2,100 mt over weekend

SHANGHAI, Mar 8 (SMM) – Zinc inventories in China rose over the weekend while the growth rate narrowed.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 2,100 mt from last Friday March 5 to 261,000 mt as of Monday March 8. The stocks were down 3,400 mt from .

Stocks in Shanghai increased due to continuous arrivals at smelters and the inflow of import zinc. In south China's Guangdong, recovering downstream demand and the arrivals at smelters led to the slight increase in stocks. Stocks in Tianjin remained unchanged as arrivals increased while downstream took delivery of goods after restocking when zinc prices fell.

Compared to last Thursday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) increased 2,700 mt.