Zinc social inventories expanded 2,500 mt over weekend

SHANGHAI, Jul 19 (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 2,500 mt from last Friday July 16 to 116,900 mt as of Monday July 19. The stocks were up 6,200 mt from July 12.

Stocks in Shanghai rebounded as market arrivals improved, and some downstream companies waited for the national reserve transferred to the plants, and the downstream procurement declined. In south China's Guangdong, market arrivals rose slightly and downstream procurement weakened, which led to an increase in stocks. In Tianjin, arrivals of smelters remained stable and the downstream mainly purchased for rigid demand.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) increased 3,000 mt.