Zinc social inventories rose 100 mt over weekend

SHANGHAI, Nov 2 (SMM) – Zinc inventories in China expanded slightly over the weekend, with stocks falling in Shanghai while increasing in Tianjin and Guangdong.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased slightly by 100 mt from last Friday October 30 to 165,000 mt as of Monday November 2. The stocks were down 200 mt from last Monday October 26.

Relatively strong demand for and smaller inflow of imported zinc accounted for the decline in Shanghai stocks. Rising arrivals in Guangdong boosted local inventories, while weakened downstream demand led to continuous stock buildup in Tianjin.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 700 mt this week.