Limited arrivals, downstream restocking lower zinc social inventories

SHANGHAI, Jul 8 (SMM) – Zinc social inventories continued to shrink from Friday July 5, as of Monday July 8, as limited arrivals of seaborne materials and cargoes from smelters lowered stocks. 

Bargain-hunting purchases by downstream consumers after zinc prices fell below 20,000 yuan/mt also accounted for the lower inventories. 

SMM retains expectations that a continued seasonal lull may grow social inventories of zinc in the weeks ahead.