Zinc Ingot Social Inventory Gains 2,300 mt over Weekend

SHANGHAI, Feb 13 (SMM) - SMM data shows that the zinc ingot social inventories across seven major markets in China totalled 187,800 mt as of today February 13, up 7,000 mt from last Monday (February 6) and up 2,300 mt from last Friday (February 10).

The inventory in Shanghai recorded a slight increase with stable arrivals and seldom pick-ups during the weekend.

In Tianjin, most galvanising enterprises were back to work, and some large enterprises even ran at full capacity, whose high restocking demand drove the inventory in Tianjin to decline further.

In Guangdong, the overall arrivals were tight as some zinc ingots were still stored in the warehouse of smelters. The downstream buyers mainly purchased on dips. The inventory in Guangdong dropped slightly.

Taken together, inventories in Shanghai, Guangdong and Tianjin rose 2,400 mt, and inventories across seven major markets in China gained 2,300 mt.