Zinc social inventories expanded 16,000 mt on week

Published: Feb 5, 2021 14:31

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Zinc inventories in China rose this week, with stocks in Shanghai, Guangdong and Tianjin increasing relatively sharply.

SHANGHAI, Feb 5 (SMM) – Zinc inventories in China rose this week, with stocks in Shanghai, Guangdong and Tianjin increasing relatively sharply.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 16,000 mt in the week ended February 5 to 154,200 mt. The stocks rose 15,100 mt from Monday February 1.

Stocks in Shanghai increased as downstream restocked when zinc prices fell despite decreased demand. In south China's Guangdong, arrivals at smelters increased and downstream took a holiday successively with shrinking demand, prompting stocks to increase sharply. Stocks in Tianjin rose slightly as some cargoes at smelters were shipped directly to the downstream plants.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 16,200 mt this week, after a 2,600 mt decrease last week.

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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