Zinc social inventories rose 2,100 mt over weekend

SHANGHAI, Mar 15 (SMM) – Zinc inventories in China continued to rise over the weekend.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 2,100 mt from last Friday March 12 to 265,400 mt as of Monday March 15. The stocks were up 4,400 mt from March 8.

Stocks in Shanghai increased due to continuous arrivals at smelters and the inflow of import zinc. In south China's Guangdong, rising zinc ingots prices, few stockpiling cargoes and decreasing shipments led to the slight increase in stocks. Stocks in Tianjin rose slightly as arrivals at smelters increased and downstream took delivery of goods.

Compared to last Thursday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) increased 2,800 mt.