Zinc social inventories expanded 2,100 mt over weekend

SHANGHAI, Aug 17 (SMM) – Zinc inventories in China built up over the weekend, primarily propelled by gains in Shanghai and Hebei. 

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei rose 2,100 from last Friday August 14 to 177,200 mt as of Monday August 17. The stocks were down 5,500 mt from last Monday August 10. 

More imported zinc flowed into Shanghai on narrowed import losses. Arrivals of cargoes declined in Guangdong as traded prices there were lower than those in Shanghai and Tianjin, and downstream demand was stable, slightly lowering local inventories. Stocks in Tianjin also dipped as shipments from some Inner Mongolia smelters increased while downstream demand was moderate.  

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) expanded 1,600 mt.