Zinc social inventories fell 5,100 mt over weekend

SHANGHAI, Apr 6 (SMM) – Zinc inventories in China fell over the weekend, with stocks in Shanghai decreasing relatively sharply.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 5,100 mt from last Friday April 2 to 228,400 mt as of Monday March 5. The stocks were down 13,900 mt from March 29.

Stocks in Shanghai decreased sharply as the inflow of import zinc slowed down and downstream restocking increased when zinc prices fell. In south China's Guangdong, arrivals at smelters were normal during the holiday, which led to the slight increase in stocks. Stocks in Tianjin remained unchanged as inbound quantity and outbound quantity offset each other.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) decreased 4,000 mt.