SHANGHAI, Jul 23 (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 1,500 mt in the week ended July 23 to 115,900 mt. The stocks fell 1,000 mt from Monday June 19.
Stocks in Shanghai rebounded on week as arrivals of imported zinc increased and downstream purchase for rigid demand. In south China's Guangdong, market arrivals declined affected by power curtailments and limited production of smelters, and the downstream still had rigid demand, with stocks reaching a new low. Stocks in Tianjin fell as rebounded steel prices led to the improvement of downstream orders.
Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 1,900 mt this week, after a 5,100 mt increase last week.
