Zinc social inventories shrank 3,200 mt on week

SHANGHAI, Mar 5 (SMM) – Zinc inventories in China fell this week.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 3,200 mt in the week ended March 5 to 258,900 mt. The stocks fell 5,500 mt from Monday March 1.

Stocks in Shanghai increased as downstream restocked at low prices despite continuous arrivals at smelters and the inflow of import zinc. In south China's Guangdong, there were still a large number of concentrated arrivals last weekend, and the downstream restocking led to the decrease in stocks, while the inventories increased slightly compared with last Friday. Stocks in Tianjin fell as downstream became more willing to enquiry and restock when zinc prices fell.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 3,400 mt this week, after a 37,900 mt increase last week.