SHANGHAI, Nov 9 (SMM) – Zinc inventories in China expanded over the weekend, with stocks falling in Shanghai and Guangdong while increasing significantly in Tianjin.
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased by 4,500 mt from last Friday November 6 to 169,700 mt as of Monday November 9. The stocks were up 4,700 mt from last Monday November 2.
Slower inflow of imported zinc into Shanghai led to the decline in local stocks, while rising arrivals of cargoes at several smelters and weakened downstream orders boosted inventories in Tianjin.
Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 2,300 mt this week.
