Zinc social inventories shrank 7,500 mt on week

SHANGHAI, Jun 18 (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 7,500 mt in the week ended June 18 to 128,600 mt. The stocks fell 3,500 mt from Tuesday June 15.

Stocks in Shanghai continued to decrease as arrivals of import zinc fell and the downstream still purchased for rigid demand. In south China's Guangdong, as smelters in Yunnan resumed production one after another, market arrivals increased. Stocks in Tianjin continued to pile up as downstream demand was still weak with normal arrivals at smelters.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 8,000 mt this week, after a 15,800 mt decrease last week.