Zinc social inventories shrank 5,100 mt over weekend

SHANGHAI, Dec 30 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 109,300 mt as of Monday December 30, down 10,200 mt from Monday December 23 and down 5,100 mt from Friday December 27, showed SMM data.

Refined zinc inventories registered decline in most areas over the weekend. Steady purchases of imported zinc reduced stocks in Shanghai by over 2,000 mt. Downstream restocking kept shipments from warehouses in Guangdong at high levels, and selloffs amid sufficient supplies also boosted stockpiling by downstream consumers in Tianjin.

Limited arrivals and deliveries saw inventories in Jiangsu and Zhejiang slightly lower during the weekend, while stocks in other areas edged higher on the back of subdued orders.

As of December 30, social inventories of refined zinc across Shanghai, Tianjin and Guangdong shrank 3,500 mt from last Friday.