Deliveries, recovering consumption lower zinc social inventories

SHANGHAI, Mar 18 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong dipped over the weekend as cargoes were delivered and downstream consumption recovered.

SMM data showed that social inventories of refined zinc across the three regions declined 1,800 mt from Friday March 15 but rose 6,500 mt from Monday March 11 to stand at 228,600 mt as of Monday March 18.

An increase in stocks in Shanghai of some 4,300 mt accounted for gains in stocks across the three regions over the week.

Stocks are expected to extend their declines as downstream consumption further recovers after the two sessions.