Zinc social inventories fell 2,200 mt over weekend

SHANGHAI, Apr 13 (SMM) – Zinc inventories in China fell over the weekend, propelled by a drop in Shanghai where downstream consumers were keen to replenish their stocks to wrap up the week.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 283,600 mt as of Monday April 13, down 2,200 mt from Friday April 10 and 13,800 mt from Tuesday April 7.

The inventory decline over the weekend was partially offset by gains in Guangdong and Tianjin. Weak consumption muted trades in Guangdong, while trades in Tianjin slowed as some of smelters there held back on sales.

Compared to last Friday, social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased 1,600 mt.