Zinc social inventories expanded 57,400 mt on week

SHANGHAI, Feb 18 (SMM) – Zinc inventories in China rose this week. 

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 57,400 mt in the week ended February 18 to 224,500 mt. The stocks rose 65,100 mt from last Monday February 8.

The downstream basically had a holiday during the CNY with few shipments, while most smelters were in normal production, constantly shipping zinc ingots. Arrivals in warehouses rose significantly, leading to a sharp increase in zinc inventories.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 45,200 mt this week, after a 9,700 mt increase last week.