Zinc social inventories rose 1,100 mt on week

SHANGHAI, Dec 27 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 114,400 mt as of Friday December 27, down 5,100 mt from Monday December 23 but up 1,100 mt from Friday December 20, showed SMM data.

Stocks in Guangdong and Shanghai registered slight declines from a week ago on the back of solid downstream buying on reduced prices in Shanghai and improved demand for cargoes with December’s invoices in Guangdong. Inventories in Tianjin stood roughly flat as product sell-offs offset greater arrivals. 

Inventories in Jiangsu, Zhejiang, Shandong and Hebei, meanwhile, edged higher as demand weakened from downstream consumers, with downstream producers in north China still under environmental production curbs.

As of December 27, social inventories of refined zinc across Shanghai, Tianjin and Guangdong shrank 800 mt from last Friday.