Zinc Ingot Social Inventories across China Seven Major Markets Grew This Week

SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 113,500 mt as of Friday July 7, up 1,200 mt from Friday June 30 but down 2,900 mt from Monday July 3. Shipments arrivals of imported zinc ingot in Shanghai combined with sluggish shipments resulted in noticeable stock accumulation.

In Guangdong, arriving shipments were low this week, and downstream buyers purchased as needed, lowering inventories. In Tianjin, arriving shipments were limited as smelters in north China had begun maintenance. Local inventories declined. Inventory in Shanghai, Guangdong and Tianjin fell 2,700 mt.

More popular news:

SMM Daily Comments (Jul 3): SHFE Base Metals Rose across the Board with Tin Surging, Ferrous Metals Prices Closed Mixed

SMM Daily Comments (Jul 5): Base and Ferrous Metals Prices Mostly Fell, WTI Soared despite Lingering Concerns over Global Economic Downturn

SMM Daily Comments (Jul 6): SHFE, LME Base Metals Diverged with SHFE Nickel and Tin Skyrocketing, Ferrous Metals Rose across the Board

China Commodity Supply and Demand Boomed in June

China Vows To Increase Macro-Control Efforts, Expand Consumption And Stabilise Investment

Citi Research Cautious about Copper Prices in Three Quarters, Iron Ore Prices to Have Support from Policy Stimulus