SHANGHAI, Aug 16 (SMM) – Zinc social inventories across Shanghai, Tianjin and Guangdong decreased this week as shipments from Guangdong to Shanghai remained en route.
SMM data showed that stocks across the three areas fell 7,700 mt from Friday August 9 to stand at 141,000 mt as of Friday August 16.
The Shanghai-Guangdong price spread of spot zinc expanded to a premium of 250 yuan/mt last week, and this triggered the delivery from Guangdong to Shanghai. A total of 6,000-10,000 mt of cargoes are expected to arrive in Shanghai this weekend.
