Zinc Social Inventories Up 12,000 mt on Week

SHANGHAI, Sep 24 (SMM)—Total zinc inventories across seven Chinese markets stood at 129,200 mt as of September 24, up 6,200 mt from September 13 and 12,000 mt from September 17.

Inventories in Shanghai increased sharply as arrivals of goods at smelters increased during the Mid-Autumn Festival and downstream demand weakened. Guangdong saw an increase in stocks amid normal arrivals of goods and muted downstream demand on power rationing. Inventory in Tianjin fell slightly as logistics restrictions caused in-plant overstocks at smelters and the arrivals of cargoes were less than expected on suspension of production at individual smelters.

Inventories in Shanghai, Guangdong and Tianjin rose 11,900 mt, and inventories across seven Chinese markets increased 12,000 mt.