Greater arrivals, fewer deliveries grow zinc social inventories by 5,800 mt on week

SHANGHAI, Sep 6 (SMM) – Zinc social inventories across Shanghai, Tianjin and Guangdong extended gains from the weekend, as shipments from the Guangdong market and Guangxi smelter arrived at warehouses and as consumption remained sluggish in the south.

SMM data showed that stocks across the three areas rose 5,800 mt from Friday August 30 and 3,100 mt from Monday September 2 to stand at 144,500 mt as of Friday September 6.

The arrival of shipments from Guangdong bolstered stocks in Shanghai, while inventories in Guangdong rose as deliveries fell on the end of cargo removal to Shanghai and weak consumption and as arrivals grew after the smelter in Guangxi recovered from a breakdown.