Zinc social inventories inched up 600 mt over weekend

SHANGHAI, May 11 (SMM) – Zinc inventories in China rose slightly over the weekend, primarily propelled by an increase in Shanghai as deliveries including imported materials arrived.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 237,600 mt as of Monday May 11, up 600 mt from last Friday May 8 and 1,400 mt higher than last Wednesday May 6.

Stocks in Tianjin and Guangdong inched down over the weekend, as a rally in zinc prices encouraged smelters to discharge their cargoes and as some downstream consumers purchased on demand.

Compared to last Friday, social inventories of refined zinc across Shanghai, Tianjin and Guangdong increased 300 mt, after an increase of 6,800 mt between April 30 and May 8.