Zinc social inventories jumped 15,100 mt over weekend

SHANGHAI, Mar 9 (SMM) – Zinc inventories in China rose sharply over the weekend, propelled by a jump in Shanghai where saw concentrated arrivals of deliveries from smelters and weak demand.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 337,900 mt as of Monday March 9, up 15,100 mt from Friday March 6 and 18,800 mt from Monday March 2.

Stocks in Shanghai jumped more than 8,000 mt over the weekend, while Tianjin saw an increase of just 500 mt as deliveries from Zijin and Chihong dwindled.

Zinc social inventories in Guangdong gained 1,600 mt over the weekend, as downstream consumers there were keen to replenish their stocks and as some deliveries remained en route.

Compared to last Friday, social inventories of refined zinc across Shanghai, Tianjin and Guangdong increased 10,600 mt.