Imports, domestic cargoes grow zinc stocks

SHANGHAI, Oct 12 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong increased and stood at 153,500 mt as of Friday October 12, SMM data showed.

This was up 32,100 mt from Friday September 28 and up 6,100 mt from Monday October 8. Stocks across the three regions grew in the first week after the National Day holiday.

Inventory growth in Guangdong accounted for the majority of increases as local warehouses received shipments from domestic smelters and imports.

Shanghai and Tianjin saw limited growth, with some cargoes en route to Shanghai. SMM expects zinc social inventories across the three regions to extend their gains next week.