Zinc social inventories rose 6,100 mt over weekend

SHANGHAI, Jan 4 (SMM) – Zinc inventories in China increased over the New Year’s Day holiday. SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei expanded by 6,100 mt from last Thursday December 31 to 147,600 mt as of Monday January 4. The stocks were up 1,400 mt from last Monday December 28.

Shipments of cargoes out of social warehouses declined during the New Year’s Day holiday as most of the downstream users had completed stockpiling before the holiday.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) increased 6,600 mt over the same period.