Zinc social inventories shrank 4,000 mt over weekend

SHANGHAI, Jun 15 (SMM) – Zinc inventories in China fell over the weekend.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 4,000 mt from last Friday June 11 to 132,100 mt as of Tuesday June 15. The stocks were down 10,600 mt from June 7.

Stocks in Shanghai decreased as downstream stockpiled when zinc prices fell before the holiday. In south China's Guangdong, arrivals rose slightly during the holiday, which led to the increase in stocks. Stocks in Tianjin piled up as downstream demand was still moderate with limited market demand, and there were still arrivals in smelters.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) decreased 4,800 mt.