Zinc Social Inventories Expanded 7500 mt on Week

SHANGHAI, Aug 23 (SMM) - Total zinc inventories across seven Chinese markets stood at 130,000 mt as of August 23, up 1,400 mt from August 20 and 7,500 mt from August 16.

Stocks in Shanghai declined as downstream producers raised restocking on declining zinc prices. Guangdong saw an increase in stocks as arrivals of goods increased in the spot market on loosening power curtailment at smelters. Inventories in Tianjin rose as downstream demand thinned on declining steel prices. 

Inventories in Shanghai, Guangdong and Tianjin rose 1,500 mt, and inventories across seven Chinese markets increased 1,400 mt.