SHANGHAI, Oct 18 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong extended their decline this week, standing 4,300 mt lower from October 14 and 2,600 mt lower from October 11, at 136,400 mt as of Friday October 18, according to SMM data.
Smaller stocks in Guangdong contributed to the overall decline, as orders improved from major consumption sector of die casting zinc alloy in south China. Weaker zinc prices boosted downstream buying, which also helped deplete stocks at social warehouses.
In Shanghai and Tianjin, zinc inventories fell marginally as the annual industry conference for lead and zinc kept spot trades muted in Shanghai. Anti-smog production curbs across steel mills and galvanising plants in Hebei province also affected their zinc procurement.