Zinc social inventories shrank 10,700 mt on week

SHANGHAI, May 28 (SMM) – Zinc inventories in China fell this week.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 10,700 mt in the week ended May 28 to 155,500 mt. The stocks fell 6,000 mt from Monday May 24.

Stocks in Shanghai continued to decrease as the inflow of imported zinc was limited, and the market digested domestic zinc stocks. In south China's Guangdong, power curtailment and limited production in Yunnan smelters affected market arrivals, which led to the continuous decrease in stocks. Stocks in Tianjin rose slightly as downstream demand was sluggish with limited market arrivals.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 8,600 mt this week, after a 10,300 mt decrease last week.