Zinc social inventories shrank 1,600 mt over weekend

Published: Dec 07, 2020 14:13 (GMT+8)

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Zinc inventories in China fell over the weekend, primarily propelled by a decrease in Shanghai and Guangdong.

SHANGHAI, Dec 7 (SMM) – Zinc inventories in China fell over the weekend, primarily propelled by a decrease in Shanghai and Guangdong.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 1,600 mt from last Friday December 4 to 165,100 mt as of Monday December 7. The stocks were down 5,700 mt from last Monday November 30.

Stocks in Shanghai decreased due to import loss and limited inflow of imported zinc. In south China's Guangdong, increased downstream restocking due to the low prices led to the continuous decline in local zinc inventories despite increased arrivals. Stocks in Tianjin started to pile up as arrivals at some smelters increased and downstream restocked for rigid demand.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) decreased 1,300 mt.

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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