SHANGHAI, Mar 11 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin registered their first post-CNY decline over the weekend of March 9-10.
SMM data showed that social inventories of refined zinc across the three areas decreased 1,000 mt from Friday March 8, but increased 4,000 mt from Monday March 4 to stand at 222,100 mt as of Monday March 11.
Lower prices of zinc on March 8 bolstered downstream purchases, and this shrank inventories over the weekend.
SMM expects further downstream recovery, after the political sessions in Beijing, to continue to deplete social inventories in the weeks ahead.
