Zinc social inventories rose 5,200 mt over weekend

SHANGHAI, Feb 8 (SMM) – Zinc inventories in China rose over the weekend.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 5,200 mt from last Friday February 5 to 159,400 mt as of Monday February 8. The stocks were up 20,300 mt from last Monday February 1.

As the downstream started the holiday, the market demand shrank sharply. Inter-provincial automobile transportation was stopped one after another, and some smelters changed to railway transportation with longer transportation time, while some goods were hoarded in smelter factories, which affected the arrival rhythm and arrivals.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) increased 4,500 mt.