Zinc inventory inches up amid cautious buyers

Published: Jul 20, 2018 14:16

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Zinc social inventory in Shanghai, Guangdong and Tianjin inched up nearly 700 mt from last Friday to 99,900 mt

SHANGHAI, Jul 20 (SMM) – Zinc social inventory in Shanghai, Guangdong and Tianjin inched up nearly 700 mt from a week ago to 99,900 mt as of Friday July 20 as downstream buyers hesitated to purchase.

Inflows of imported materials in Shanghai were not as much as expected with buyers mostly taking a watch-and-wait stance on volatile zinc prices. Arrivals of domestic cargoes were also limited, SMM learned.

While inventories fell 4,500 mt in Shanghai, a rise of 5,200 mt of stocks in Tianjin contributed to the overall increase, as buyers were unwilling to procure at high prices.

We expect inventories to edge up further next week if more imported zinc enters the market.

Inventory data Zinc

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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