Zinc social stocks in Shanghai, Guangdong, Tianjin extend gains

SHANGHAI, Jan 28 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin grew 4,300 mt from Friday January 25 and 11,400 mt from Monday January 21 to stand at 117,000 mt as of Monday January 28, SMM data showed.

Downstream purchases declined as the Chinese New Year approached, while social warehouses continued to see arrivals from smelters. This accounted for the gains in zinc social inventories.

SMM expects social inventories of refined zinc across Shanghai, Guangdong and Tianjin to continue to grow this week.