SHANGHAI, Mar 29 (SMM) – Recovery of downstream demand encouraged zinc smelters to step up shipments this week. This, together with limited deliveries to social warehouses and smaller seaborne arrivals amid import losses, continued to lower social inventories of zinc as of Friday March 29.
Social inventories of refined zinc across Shanghai, Guangdong and Tianjin decreased by 7,800 mt from Friday March 22 and by 3,600 mt from Monday March 25 to stand at 212,500 mt as of Friday March 29, SMM data showed. Inventories in all three areas registered declines.
SMM expects zinc social inventories to extend their declines next week as downstream consumption recovers.
