Zinc social inventories dipped 600 mt over weekend

SHANGHAI, Jan 6 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 106,900 mt as of Monday January 6, down 600 mt from Friday January 3 and 2,400 mt from Monday December 30, showed SMM data.

Shanghai primarily contributed to the decline in overall stocks over the weekend, due to limited arrivals and as downstream consumers remained keen to buy on dips.

Tepid purchases and great arrivals, meanwhile, boosted stocks in Guangdong.

Stocks in Tianjin were barely changed as downstream consumers scaled back their purchases and focused on existing inventories.

As of January 6, social inventories of refined zinc across Shanghai, Tianjin and Guangdong shrank 500 mt from last Friday.