Zinc social inventories expanded 1,700 mt over weekend

Published: Jul 12, 2021 17:00
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 1,700 mt from last Friday July 9 to 122,000 mt as of Monday July 12. The stocks were up 6,200 mt from July 5.

SHANGHAI, Jul 12 (SMM) – Zinc inventories in China rose over the weekend.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 1,700 mt from last Friday July 9 to 122,000 mt as of Monday July 12. The stocks were up 6,200 mt from July 5.

Stocks in Shanghai increased slightly as transferred cargoes of inventories in Tianjin arrived at the downstream factories in East China last week, leading to a decline in procurement demand in the downstream market. In south China's Guangdong, market arrivals continued to improve and downstream demand weakened, which led to a sharp rebound in stocks. Stocks in Tianjin fell slightly as downstream demand remained stable and arrivals of smelters declined.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) increased 1,600 mt.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn