SHANGHAI, Sep 3 (SMM) – Imports further grew social inventories of zinc over the weekend, as of Monday September 3.
Stocks across the major markets of Shanghai, Tianjin, and Guangdong came in at 114,900 mt as of September 3, up 5,200 mt from Monday August 27, and up 5,800 mt from Friday August 31.
Imported zinc, as well as some domestic materials, grew stocks by 3,000 mt in Shanghai and 3,800 mt in Guangdong over the weekend. This accounted for the overall rise in social inventories.
Stocks shrank some 1,000 mt to 45,700 mt in Tianjin as downstream consumers made some purchases and limited imports entered the market.
SMM believes that more imports are likely to continue to grow social inventories this week.
