Zinc social inventories fell 3,000 mt over weekend

SHANGHAI, Mar 30 (SMM) – Zinc inventories in China continued to fall over the weekend, propelled by declines in east and north China where downstream consumers were keen to make purchases.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 304,000 mt as of Monday March 30, down 3,000 mt from Friday March 27 and 20,000 mt from Monday March 23.

The stocks in Guangdong inched up over the weekend, due to concentrated arrivals and as downstream consumers there held back on procurement after export orders were affected by the spread of the coronavirus pandemic.

Compared to last Friday, social inventories of refined zinc across Shanghai, Tianjin and Guangdong declined 2,000 mt.