SHANGHAI, Dec 14 (SMM) – Limited arrivals of domestic and imported cargoes, as well as on-demand purchases from downstream buyers continued to lower zinc social stocks this week.
Social inventories of refined zinc across Shanghai, Guangdong and Tianjin came in at 102,000 mt as of Friday December 14, down some 5,800 mt from Monday December 10 and down 6,500 mt from last Friday, SMM data showed.
Compared to Friday December 7, limited imported and domestic zinc in Shanghai accounted for most of the overall decline. Stocks in Tianjin and Guangdong also shrank on the week.
This week, shipments from some northern smelters to Shanghai remained in transit, with some arrivals moving downstream, SMM learned.
In the short run, we do not expect overall social stocks to climb significantly across the three regions.
