Zinc social inventories fell 3,600 mt over weekend

SHANGHAI, May 25 (SMM) – Zinc inventories in China extended their decline over the weekend, propelled by a drop in Guangdong where downstream consumers stepped up purchases after zinc prices pulled back later last week.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 3,600 mt from last Friday May 22 to 222,100 mt as of Monday May 25. The stocks were down 5,600 from last Monday May 18.

Stocks in Shanghai and Tianjin, however, rose over the weekend due to the arrivals of imported cargoes.

Compared to last Friday, social inventories of refined zinc across the three major trading hubs—Shanghai, Tianjin and Guangdong—decreased 1,900 mt, following a fall of 1,200 mt in the week ended May 22.