Zinc social inventories dip 1,000 mt on week

SHANGHAI, Aug 30 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased by 1,000 mt from a week ago to stand at 138,700 mt as of Friday August 30, showed SMM data.

Stocks as of Friday August 23 were downwardly revised to 139,700 mt, from the previously reported 140,300 mt.

Limited seaborne cargoes entered the market this week, as the arbitrage window remained closed.

Stocks in Shanghai grew as shipments from Guangdong arrived, while Guangdong inventories shrank as there were more cargoes delivered to Shanghai.

Stocks in Tianjin declined as transport problems deterred shipments from northern smelters.