Zinc social inventories expanded 2,200 mt on week

SHANGHAI, May 7 (SMM) – Zinc inventories in China rose this week.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 2,200 mt in the week ended May 7 to 182,300 mt.

Stocks in Shanghai increased slightly due to expanded import loss and decreasing inflow of imported zinc. In south China's Guangdong, arrivals were limited during the holiday and downstream still had restocking demand post-holiday, which led to the slight increase in stocks. Stocks in Tianjin rose relatively sharply as the downstream purchased more before the holiday, which affected the demand post-holiday.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 2,200 mt this week, after a 19,500 mt decrease last week.