SHANGHAI, Aug 26 (SMM) – Zinc social inventories across Shanghai, Tianjin and Guangdong continued to decline over the weekend as shipments from Guangdong to Shanghai remained en route and as the purchases under long-term contracts lowered stocks in Shanghai.
SMM data showed that stocks across the three areas decreased by 3,900 mt from Friday August 23 and by 7,100 mt from Monday August 19 to stand at 135,800 mt as of Monday August 26.
Arrivals and on-demand procurement in the market limitedly changed inventories in Tianjin. Resumption from maintenance across smelters in north China is expected to grow arrivals in the north and expand zinc social inventories as of this Friday, SMM expects.
