Imports, arrivals from smelters grow zinc inventories

SHANGHAI, Aug 3 (SMM) – Social inventories of zinc in Shanghai, Guangdong, and Tianjin grew 11,600 mt from last Friday to 115,000 mt as of Friday August 3, SMM data showed. 

Inflows of imports and limited downstream consumption grew inventories in Shanghai by 3,800 mt on the week. Stocks in Guangdong and Tianjin rose as more cargoes arrived from smelters. 

SMM expects inventories to extend its increase next week as more imports are likely to enter the market.