CNY stockpiling lowers zinc social stocks across Shanghai, Guangdong, Tianjin

SHANGHAI, Jan 21 (SMM) – Social inventories of refined zinc in Shanghai, Guangdong and Tianjin dipped 1,700 mt from Friday January 18 and 1,200 mt from Monday January 14, and stood at 105,600 mt as of Monday January 21, SMM data showed.

Despite the arrival of a small amount of domestic and seaborne materials, social stocks declined over the weekend as downstream consumers continued to stockpile for Chinese New Year (CNY).

Stocks are likely to grow as stockpiling wanes as CNY approaches.