SHANGHAI, Jul 5 (SMM) – Zinc social inventories fell this week, as smelters saw fewer shipments after zinc prices extended their declines.
Bargain-hunting purchases by downstream consumers and limited arrivals of seaborne materials also lowered inventories.
SMM data showed that social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased by 5,100 mt from Monday July 1, and by 1,800 mt from Friday June 28, to stand at 150,400 mt as of Friday July 5. Lower stocks in Shanghai and Tianjin accounted for the drop.
