SHANGHAI, Jan 2 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin increased by 6,900 mt from Friday December 28 to 94,000 mt as of Wednesday January 2, SMM data showed.
During the New Year's Day holiday, smelters operated as usual and generated shipments to social warehouses.
Inflows of seaborne materials remained limited and as some smelters cut output. This limited upward room in gains in social inventories.
In anticipation of a lack of inflows of imported zinc in the short term, social inventories of refined zinc are unlikely to gain substantially in the short term.
