SHANGHAI, Sep 14 (SMM) – Zinc inventories in China fell over the weekend, primarily propelled by losses in Shanghai.
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 4,800 mt from September 11 to 154,000 mt as of September 14. The stocks were down 17,200 mt from last Monday September 7.
Stocks in Shanghai declined as inflows of imported zinc increased with increasing downstream purchase demand of zinc at low prices.
Increasing cargoes directly transferred to end-users, delayed shipment and limited arrivals lowered stocks in Guangdong. Stocks in Tianjin declined slightly as mills that have passed environmental protection standards have resumed production and the arrivals of cargoes have increased.
Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) shrank 5,800 mt.