Zinc social inventories inched up 1,100 mt over weekend

SHANGHAI, Jul 6 (SMM) – Zinc inventories in China rose over the weekend, primarily propelled by Tianjin where saw concentrated arrivals with deliveries from Baiyin accounting for the majority.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 1,100 mt from last Friday July 3 to 217,700 mt as of Monday July 6. The stocks were down 6,200 mt from last Monday June 29.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) grew 1,800 mt.

Stocks in east China’s Shanghai fell on active purchases by downstream consumers ahead of the weekend, while stocks in south China’s Guangdong were little changed as outflows were offset by inflows.