Domestic, seaborne arrivals grow zinc social inventories

SHANGHAI, May 31 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin expanded this week, bolstered by arrivals of domestic and seaborne cargoes.  

SMM data showed that inventories across the three regions increased by 6,600 mt from Monday May 27, and by 1,600 mt from Friday May 24, to stand at 143,900 mt as of Friday May 31.

Growth in Shanghai stocks accounted for the majority of gains, as Tianjin and SMC materials entered warehouses in Shanghai.

Greater shipments from domestic smelters and inflows of materials from Kazakhstan grew stocks in Tianjin.

Stocks in Guangdong held stable this week. Previous deliveries leaving Guangdong are expected to gradually enter downstream consumers in Jiangsu and Zhejiang.