SHANGHAI, Feb 15 (SMM) – Social inventories of refined zinc in China extended their holiday gains in the first week after the Lunar New Year break, as downstream consumption has yet to recover fully.
Poor purchases and stable arrivals from smelters grew social stocks.
SMM data showed that social inventories of refined zinc across Shanghai, Guangdong and Tianjin rose 16,000 mt from Monday February 11 and 56,700 mt from Friday February 1 to stand at 187,000 mt as of Friday February 15.
As it takes time for downstream consumers to resume, social inventories of refined zinc are expected to continue to grow next week, albeit by a smaller margin.
