Zinc Social Inventories Up 2,500 mt over Weekend

SHANGHAI, Dec 27 (SMM) – Total zinc inventory across seven Chinese markets stood at 126,700 mt as of December 27, up 2,500 mt from December 24 and 2,500 mt from December 20.

The inventory in Shanghai continued to decline as imported zinc available in the market thinned, some major plants implemented maintenance and in-plant stocks were at low levels. The stocks in Guangdong stopped falling and increased as the arrivals of goods increased and the restocking demand from downstream plants declined. Tianjin saw a continuous accumulation of stocks as downstream demand continued to weaken and arrivals of goods in the market stabilised. Inventories in Shanghai, Guangdong and Tianjin rose 1,300 mt, and inventories across seven Chinese markets increased 2,500 mt.