Zinc Social Inventories Down 4,100 mt On Week

SHANGHAI, Dec 31 (SMM)—Total zinc inventories across seven Chinese markets stood at 120,100 mt as of December 31, down 6,600 mt from December 27 and 4,100 mt from December 24.

Shanghai saw a decrease in the stocks as the inflows of imported zinc thinned, some domestic zinc brands were still in transit and the arrivals of goods in the market declined sharply, and downstream producers properly restocked before the holiday. The inventory in Guangdong rose slightly amid muted arrivals of goods in the market and falling demand from downstream producers. The stocks in Tianjin continued to increase as the arrivals of goods stabilised, downstream demand was sluggish and traders have demand of delivering futures goods. Inventories in Shanghai, Guangdong and Tianjin fell 4,500 mt, and inventories across seven Chinese markets decreased 4,100 mt.