Zinc social inventories remained unchanged over weekend

SHANGHAI, Jun 28 (SMM) – Zinc inventories in China remained unchanged over the weekend.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei remained unchanged from last Friday June 25 to stand at 116,500 mt as of Monday June 28. The stocks were down 6,400 mt from June 21.

Stocks in Shanghai decreased sharply as the inflow of imported zinc was limited, and the downstream still picked up the goods which were purchased at low prices in the previous period. In south China's Guangdong, downstream demand weakened and market arrivals improved, which led to a slight increase in stocks. Stocks in Tianjin continued to pile up as downstream demand was moderate, and smelters delivered goods normally.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) decreased 1,500 mt.