Zinc Social Inventories Up 11,700 mt Over Weekend

SHANGHAI, Jan 24 (SMM)—Total zinc inventories across seven Chinese markets stood at 145,300 mt as of January 24, up 11,700 mt from last Friday January 21, and 19,100 mt from last Monday January 17.

The inventory kept rising over the weekend. The inventories in Shanghai rallied due to improved arrivals and weakening downstream demand as the market participants closed for CNY holiday. In Guangdong, the local inventories rose significantly amid more arrivals and shrinking demand. The situation in Tianjin was similar, which saw continuously weakening demand.

To sum up, the inventory in Shanghai, Tianjin and Guangdong rose 10,500 mt over the weekend, the added 11,700 mt across the major markets in China.