Zinc social inventories grow on imports, arrivals from smelters

SHANGHAI, Sep 25 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong grew over the three-day Mid-Autumn Festival holiday with increases in Shanghai accounting for the majority as imported materials entered social warehouses and as deliveries from smelters arrived, SMM research found.

The Shanghai market also saw some cargoes from Tianjin Hongye smelter.

Stocks across the three regions came in at 126,700 mt as of Tuesday September 25, up 7,300 mt from Friday September 21, SMM data showed.

SMM does not expect zinc stocks to extend their gains this week as some downstream consumers stockpile ahead of the week-long National Day holiday.