Zinc Social Inventories Down 9,200 mt on Week

SHANGHAI, Nov 5 (SMM)—Total zinc inventories across seven Chinese markets stood at 134,400 mt as of November 5, down 6,300 mt from November 1 and 9,200 mt from October 29.

The inventory in Shanghai declined as downstream buyers restocked goods on dips. Guangdong saw a slight decrease in stocks as power rationing in Guangxi loosened and the arrivals of cargoes increased.The stocks in Tianjin trended lower amid limited arrivals and rising restocking demand by downstream producers. Inventories in Shanghai, Guangdong and Tianjin fell 8,000 mt, and inventories across seven Chinese markets decreased 9,200 mt.