Downstream recovery slows gains in zinc social inventories in Shanghai, Guangdong, Tianjin

SHANGHAI, Mar 1 (SMM) – The growth of refined zinc inventories across social warehouses across Shanghai, Tianjin and Guangdong slowed this week as downstream consumers gradually recovered from the holidays and as arrivals from smelters held stable.

SMM data showed that social inventories of refined zinc in the three regions rose 6,600 mt from Friday February 22 and 2,400 mt from Monday February 25 to stand at 214,800 mt as of Friday March 1. The stocks gained 21,300 mt in the week ended February 22.

Social inventories of refined zinc across Shanghai, Tianjin and Guangdong would still likely see moderate gains next week if consumption fails to see substantial improvement.