SHANGHAI, Aug 3 (SMM) — Zinc inventories in China increased 6,700 mt over the weekend, and Shanghai and Tianjin were the two major contributors.
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei expanded 6,700 mt from July 31 to 201,900 mt as of August 3. The stocks increased 4,300 mt from Monday July 27.
Arrivals of domestic products at east China’s Shanghai increased over the weekend after the wet weather ended.
Stocks in north China’s Tianjin rose slightly as rising prices curbed downstream demand.
Arrival of cargoes in Tianjin from some Inner Mongolia and Gansu smelters increased, while shipments from warehouses were limited, bolstering inventories in the region.
Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 6,600 mt this week.