Zinc social inventories expanded 12,900 mt on week

SHANGHAI, Feb 10 (SMM) – Zinc inventories in China rose this week.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei increased 12,900 mt in the week ended February 10 to 167,100 mt. The stocks rose 7,700 mt from Monday February 8.

As the downstream started the holiday, the market demand shrank sharply. Inter-provincial automobile transportation was stopped one after another, and some smelters changed to railway transportation with longer transportation time, while some goods were hoarded in smelter factories, which affected the arrival rhythm and arrivals.

Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) rose 9,700 mt this week, after a 16,200 mt increase last week.