Zinc Social Inventories Expanded 100 mt on Week

SHANGHAI, Jul 30 (SMM) – Zinc inventories in China rose this week.

SMM data showed that social inventories of zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 100 mt in the week ended July 30 to 116,000 mt. The stocks increased 300 mt from Monday June 26.

Stocks in Shanghai continued to rebound as a result of added arrivals and downstream taking in released government reserves; Guangdong saw slightly increased arrivals and purchasing on rigid demand from downstream, therefore stocks added slightly; Stocks in Tianjin shrank further because of disrupted arrivals due to maintenance at some smelters and improved order book amid rally in steel prices. In conclusion, stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) shrank 900 mt this week, but increased 100 mt across the seven regions in China.