Zinc social inventories shrank 12,100 mt on week

SHANGHAI, Jun 25 (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 12,100 mt in the week ended June 25 to 116,500 mt. The stocks fell 6,400 mt from Monday June 21.

Stocks in Shanghai continued to decrease as downstream demand for restocking increased when prices fell, and the inflow of imported zinc slowed down. In south China's Guangdong, downstream orders in the low-price range increased, and deliveries were made one after another in the week, driving stocks to hit a new low. Stocks in Tianjin fell slightly as overall downstream demand was still weak.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 11,700 mt this week, after an 8,000 mt decrease last week.