SHANGHAI, Aug 10 (SMM) – Zinc inventories in China fell over the weekend, primarily propelled by losses in Tianjin and Guangdong.
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei shrank 9,400 mt from last Friday August 7 to 182,700 mt as of Monday August 10. The stocks were down 19,200 mt from last Monday August 3.
Compared to last Friday, social inventories of refined zinc across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 8,800 mt.
Stocks in south China’s Guangdong fell sharply as some cargoes were transferred to Tianjin and arrivals of cargoes at markets also declined, while stocks in north China’s Tianjin also shrank as shortage of storage space for steel products at railway stations affected transportation and cargoes from Guangdong and Shanghai have yet to arrive.