Zinc social inventories increased 11,900 mt over weekend

SHANGHAI, Feb 24 (SMM) – Social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 306,400 mt as of Monday February 24, up 11,900 mt from Friday February 21 and 33,900 mt from Monday February 17, showed SMM data.

Stocks in Shanghai jumped over 7,000 mt over the weekend, as arrivals increased following logistical recovery, while purchases by downstream consumers remained muted.

Guangdong saw a smaller gain, as demand gradually recovered.

Stocks in Tianjin dipped over the weekend, as arrivals dwindled after some smelters trimmed output.

Compared to last Friday, social inventories of refined zinc ingots across Shanghai, Tianjin and Guangdong climbed 9,800 mt.