Limited imports, downstream purchases lower zinc social inventories

SHANGHAI, May 17 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin continued to fall this week, as limited imports arrived and downstream buyers stockpiled on lower prices. 

SMM data showed that the inventories decreased by 5,100 mt from Monday May 13, and by 7,500 mt from Friday May 10, to stand at 155,700 mt as of Friday May 17. Inventories posted drops in all the three areas. 

Declines in overall stocks across the three areas are likely to slow next week as products from Tianjin and Guangdong will be moved to the east and greater seaborne arrivals may enter social warehouses.