Arrivals bolster zinc social inventories in Shanghai, Tianjin, Guangdong

Published: Oct 15, 2018 12:18

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Stocks stood at 158,500 mt as of Monday Oct 15, up 5,100 mt from Friday Oct 12 and 11,200 mt from Monday Oct 8

SHANGHAI, Oct 15 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong stood at 158,500 mt as of Monday October 15, up 5,100 mt from Friday October 12 and 11,200 mt from Monday October 8, SMM data showed.

Over the weekend, warehouses in Guangdong received significant arrivals as domestic smelters stepped up shipments. Many cargoes were put on warrant for delivery, given current high prices and wide spot discounts.

There was no significant change in stocks across Shanghai and Tianjin over the weekend. Widening Shanghai-Tianjin price spreads encouraged traders and smelters to send cargoes from Tianjin to Shanghai.

SMM expects social stocks of refined zinc across the three regions to extend their gains as smelters who offer high prices are keen to offload cargoes and as purchasing enthusiasm across downstream consumers is tepid.

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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