SHANGHAI, Jan 7 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin stood at 104,000 mt as of Monday January 7, up 6,500 mt from Friday January 4 and 10,000 mt from Wednesday January 2, SMM data showed.
Over the weekend, stocks in Shanghai grew 6,200 mt, accounting for the majority of growth across the three regions as seaborne materials arrived and as some materials in Tianjin moved to Shanghai.
Some smelters in Tianjin stepped up shipments in a bid to lower stocks of finished goods ahead of Chinese New Year. This grew social stocks in Tianjin.
Stocks in Guangdong did not increase over the weekend as maintenance at some smelters limited arrivals at social warehouses.
Social inventories of refined zinc across Shanghai, Guangdong and Tianjin are likely to inch up this week in anticipation of inflows of imported materials.