Zinc social inventories expanded 4,300 mt on week

SHANGHAI, Oct 30 (SMM) – Zinc inventories in China rose this week, with stocks in Tianjin rising relatively sharply.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 4,300 mt in the week ended October 30 to 164,900 mt. The stocks fell 300 mt from Monday October 26.

Stocks in Shanghai decreased as inflow of imported zinc is limited and demand for imported goods is relatively high. Increased arrivals and slightly decreased downstream demand lifted inventories in Guangdong.

In north China's Tianjin, arrivals of the smelter is normal, and the orders for downstream galvanised tubes are weak, leading to an increase in local zinc inventories.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 4,500 mt this week, after a 2,400 mt decrease last week.