Zinc social inventories expanded 2,900 mt over weekend

SHANGHAI, Jul 5 (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 2,900 mt from last Friday July 2 to 115,800 mt as of Monday July 5. The stocks were down 700 mt from June 28.

Stocks in Shanghai increased slightly as the inflow of imported zinc was limited, and the downstream purchased for rigid demand. In south China's Guangdong, market arrivals continued to improve and downstream demand weakened, which led to a rebound in stocks. Stocks in Tianjin rose sharply as downstream demand was still weak and smelters delivered goods normally.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) increased 2,300 mt.