Zinc social inventories sharply decline with shipments en route

SHANGHAI, May 24 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin fell substantially this week, as shipments from Guangdong and Tianjin to east China remained en route.

SMM data showed that the inventories decreased by 16,400 mt from Monday May 20, and by 13,300 mt from Friday May 17, to stand at 142,300 mt as of Friday May 24. Stocks in Guangdong declined more than 10,000 mt between Monday to Friday.

With arriving shipments, arrivals at some warehouses will grow next week.