Zinc social inventories dip on limited arrivals

SHANGHAI, Jun 28 (SMM) – Zinc social inventories declined this week, as warehouses saw limited arrivals of deliveries from domestic smelters or seaborne materials.

The losses in inventories, were limited as downstream purchasing interest ebbed following purchases last week.

SMM data showed that social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased by 3,100 mt from Friday June 21, and by 1,500 mt from Monday June 24, to stand at 152,100 mt as of Friday June 28.

Zinc social inventories are expected to shrink slower in July as consumption further weakens.