Zinc social inventories fell below 200,000 mt

Published: Jul 24, 2020 16:04

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Zinc inventories in China continued to fall this week, primarily propelled by a sharp decline in Shanghai where inflows were affected by heavy rain and floods while outflows were supported by dip-purchases by downstream consumers.

SHANGHAI, Jul 24 (SMM) – Zinc inventories in China continued to fall this week, primarily propelled by a sharp decline in Shanghai where inflows were affected by heavy rain and floods while outflows were supported by dip-purchases by downstream consumers.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 7,800 mt in the week ended July 24 to 198,900 mt, after a decline of 5,700 mt in the previous week. The stocks dropped 6,200 mt from Monday July 20.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 7,800 mt this week, compared with a 4,200 mt decline in the week before.

Inventories in north China’s Tianjin fell this week due to reduced inflows, while stocks in south China’s Guangdong edged lower as downstream consumers stepped up purchases.

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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