SHANGHAI, Feb 18 (SMM) – China's social inventories of refined zinc extended their holiday gains during the weekend as regular operation at smelters grew deliveries to social warehouses.
An influx of imports and poor downstream purchases on CNY breaks also expanded inventories.
SMM data showed that social inventories of refined zinc across Shanghai, Guangdong and Tianjin rose 6,200 mt from Friday February 15, and increased 22,200 mt from Monday February 11, to stand at 193,200 mt as of Monday February 18.
SMM expects the accumulation in social inventories to slow this week as more downstream consumers return from holiday.
