Zinc social inventories inched up 400 mt over weekend due to concentrated arrivals

SHANGHAI, May 18 (SMM) – Zinc inventories in China rose slightly over the weekend, primarily propelled by gains in the north amid concentrated arrivals and muted purchases by downstream consumers.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 400 mt from last Friday May 15 to 227,700 mt as of Monday May 18. The stocks were down 9,900 from last Monday May 11.

Stocks in Tianjin and Hebei rose over the weekend, as deliveries from east China arrived in Tianjin and downstream consumers in north China held back on sales at the end of last week.

Meanwhile, stocks in Shanghai and Guangdong continued to fall as demand in Shanghai remained robust while arrivals at Guangdong were limited.

Compared to last Friday, social inventories of refined zinc across Shanghai, Tianjin and Guangdong increased 300 mt, after falling 7,300 mt last week.