Zinc social inventories shrank 1,000 mt over weekend

SHANGHAI, Aug 24 (SMM) – Zinc inventories in China shrank over the weekend, with stocks in Tianjin and Hebei rising.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei fell 1,000 from last Friday August 21 to 174,700 mt as of Monday August 24. The stocks were down 2,500 mt from last Monday August 17.

Stocks in Shanghai declined on moderate downstream demand. Tepid arrivals of cargoes and downstream users’ stockpiling lowered stocks in Guangdong. Stocks in Tianjin built up as arrivals of cargoes from some smelters in Gansu and Inner Mongolia increased. 

Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) stood flat.