Smelter deliveries grow zinc social stocks

SHANGHAI, Apr 12 (SMM) – Stable recovery of downstream demand continued to lower social inventories of refined zinc from a week ago, but deliveries from smelters and seaborne arrivals grew stocks from Monday April 8, SMM data showed on Friday April 12. 

Social inventories of refined zinc across Shanghai, Guangdong and Tianjin decreased by 1,000 mt from Friday April 5, but rose 2,000 mt from Monday April 8, to stand at 203,100 mt as of Friday April 12. 

Downstream consumers favoured imported cargoes this week, SMM learned. We expect a further recovery of consumption to lower inventories next week.