Limited imports weigh on social stocks of refined zinc over weekend

SHANGHAI, Dec 10 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin came in at 107,700 mt as of Monday December 10, down some 700 mt from last Friday and down 3,700 mt from Monday December 3, SMM data showed.

Compared to Friday December 7, limited imported zinc in Shanghai accounted for the overall decline. Deliveries from smelters to social warehouses nudged up stocks in Tianjin and Guangdong over the weekend. Downstream consumption remained slow as of December 10, SMM learned. 

Despite arrivals of domestic cargoes, overall social stocks are unlikely to climb significantly in the three regions this week.