Zinc Social Inventories Down 2,400 mt on Week

SHANGHAI, Sep 17 (SMM)—Total zinc inventories across seven Chinese markets stood at 117,200 mt as of September 17, down 5,800 mt from September 13 and 2,400 mt from September 10.

Inventories in Shanghai increased as government stockpiles arrived at plants and downstream producers reduced restocking. Guangdong saw a slight decline in stocks as downstream buyers will restock cargoes before the Mid-Autumn Festival holiday.Stocks in Tianjin fell sharply as in-plant cargoes at smelters have overstocked due to logistics restrictions, arrivals of goods in the market were muted on suspension of production at individual smelters as well as downstream plants have pre-holiday restocking demand.

Inventories in Shanghai, Guangdong and Tianjin fell 1,600 mt, and inventories across seven Chinese markets decreased 2,400 mt.