SHANGHAI, Nov 30 (SMM) – Zinc inventories in China declined over the weekend, with stocks rising in Shanghai and Guangdong while falling in Tianjin.
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei shrank by 1,600 mt from last Friday November 27 to 170,800 mt as of Monday November 30. The stocks were down 5,300 mt from last Monday November 23.
With stable arrivals of cargoes at markets, stocks in Shanghai rose slightly over the weekend. Slightly larger arrivals of cargoes and relatively stable downstream demand boosted inventories in Guangdong. The previous snowstorms in Tianjin affected the amount of cargoes arriving at markets, leading to a slight drop in local inventories.
Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 200 mt.