Zinc social inventories fell as downstream consumers bought on dips

Published: Nov 15, 2019 15:21

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Stocks decreased by 6,400 mt from a week ago to 135,100 mt as of Nov 15

SHANGHAI, Nov 15 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased by 6,400 mt from last Friday November 8 and 5,300 mt from Monday November 11 to 135,100 mt as of November 15, showed SMM data.

Shanghai and Guangdong contributed to the inventory decline, shrinking 7,000 mt and 3,500 mt on the week, respectively, as downstream consumers stepped up purchases after prices fell.

Despite a moderate decline in arrivals, stocks in Guangdong decreased as end-market demand remained robust.

Downstream consumers in Tianjin, however, held back from purchasing, bolstering zinc stocks across local social warehouses by 4,100 mt this week, even as transport troubles limited arrivals.

Inventory data Zinc

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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