SHANGHAI, Jun 5 (SMM) – Zinc inventories in China rose this week, due to concentrated arrivals and weaker demand.
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 8,100 mt in the week ended June 5 to 223,700 mt, after a decline of 10,100 mt mt in the previous week. The stocks rose 4,700 mt from Monday June 1.
Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) climbed 8,000 mt this week, compared to an 8,400 decline in the previous week.
Shanghai and Tianjin saw concentrated arrivals this week. Greater influx of imported cargoes added to arrivals at east China’s Shanghai, while the deliveries from Guangdong and the smelter Zijin accounted for arrivals at Tianjin this week.
Zinc social inventories in Guangdong edged lower this week, as sluggish demand was offset by reduced arrivals with the smelter Nanfang Non-Ferrous in maintenance and other smelters delivering their products to east China.
