Zinc social inventories extend decline over weekend

SHANGHAI, Apr 22 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin decreased by 3,800 mt from Friday April 19, and by 13,500 mt from Monday April 15, to stand at 182,700 mt as of Monday April 22, SMM data showed. 

Lower stocks in Shanghai accounted for most of the decline as downstream consumers stockpiled and as seaborne arrivals and deliveries from smelters remained limited. 

SMM expects that downstream restocking ahead of the Labour Day holiday will continue to lower inventories this week.