Shanghai-bonded zinc stocks dipped as losses triggered re-exports

SHANGHAI, Mar 27 (SMM) – Inventories of zinc ingot across Shanghai-bonded areas dipped this week, as cargoes were exported to other countries.

SMM data showed that Shanghai bonded zinc stocks decreased 100 mt in the week ended March 27 to 75,400 mt, after a 2,300 mt increase in the previous week.

Pouring seaborne cargoes to the domestic market was estimated to incur losses this week, forcing some sellers to move their cargoes to other countries.

The coronavirus has affected or shuttered some zinc mines and smelters outside China, growing disruption risks of supply to China.