SHANGHAI, Mar 19 (SMM) – Zinc inventories in China fell this week.
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 3,800 mt in the week ended March 19 to 259,500 mt. The stocks fell 5,900 mt from Monday March 15.
Stocks in Shanghai increased slightly due to continuous arrivals at smelters and the inflow of import zinc. In south China's Guangdong, with the decrease of zinc prices, the downstream procurement volume gradually enlarged, which led to the decrease in stocks. Stocks in Tianjin fell slightly as the goods were picked up one after another after the downstream purchase.
Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 12,300 mt this week, after a 5,800 mt increase last week.