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Zinc social inventories extended gains by 12,100 mt on week
Mar 13,2020 14:31CST
Data Analysis
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 12,100 mt in the week ended March 13 to 334,900 mt, compared to a gain of 9,400 mt in the previous week. Notably, the stocks declined 3,000 mt from Monday March 9, propelled by a drop in Shanghai where downstream consumers were keen to buy after zinc prices tumbled.
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