Limited inflows lower zinc social inventories on week

SHANGHAI, Nov 2 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin came in at 141,000 mt as of Friday November 2, down some 9,700 mt from Monday October 29 and 7,900 mt from Friday October 26, SMM data showed.

Limited imported materials and shipments from domestic smelters entered warehouses this week while downstream consumers purchased as needed.

In Guangdong, smelters were keen to put their cargoes on warrant for delivery in previous weeks, while those smelters cut their shipments after prices of futures fell.