Zinc social inventories expanded 7,400 mt on week

SHANGHAI, Jul 9 (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 7,400 mt in the week ended July 9 to 120,300 mt. The stocks rose 4,500 mt from Monday June 5.

Stocks in Shanghai increased slightly as the arrivals of imported zinc were limited and the market mainly digested domestic zinc. In south China's Guangdong, market arrivals continued to improve and downstream demand weakened, leading to a continuous increase in stocks. Stocks in Tianjin rose sharply as downstream demand was still low and arrivals of smelters were normal.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 6,200 mt this week, after a 5,500 mt decrease last week.