SHANGHAI, Mar 12 (SMM) – Zinc inventories in China rose this week.
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 4,400 mt in the week ended March 12 to 263,300 mt. The stocks rose 2,300 mt from Monday March 8.
Stocks in Shanghai increased sharply due to continuous arrivals at smelters and the inflow of import zinc. In south China's Guangdong, the stable downstream restocking demand with continuous arrivals at smelters led to the slight increase in stocks. Stocks in Tianjin fell as downstream restocking demand improved when zinc prices fell.
Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 5,800 mt this week, after a 3,400 mt increase last week.