Zinc social inventories grow over the weekend with more arrivals

SHANGHAI, Sep 10 (SMM) – Social inventories of zinc across Shanghai, Guangdong and Tianjin grew 3,800 mt from Friday to stand at 115,200 mt as of Monday September 10, SMM data showed.

An increase in stocks in Guangdong accounted for most of the inventories as more deliveries from Cishan smelter arrived.

Despite an open import arbitrage window, stocks in Shanghai held steady as downstream consumers favoured imported materials and depleted inflows.

Stocks in Tianjin also remained little changed, with limited arrivals from Zijin after the smelter completed maintenance.

SMM expects social inventories across the three regions to extend their gains this week as the import arbitrage window remains open.