SHANGHAI, Jul. 7 (SMM) - China’s influx of imported zinc fell rapidly after the import profit window closed, which precipitated a big fall in Shanghai’s zinc inventories in early July.
China Galvanizers Scale back Production on Raw Material Shortages, SMM Reports
But increased arriving shipments of domestic resources have offset the drop in imports, SMM said. Zinc smelters sold more actively in July now that zinc prices stayed high, growing total inventories in Shanghai, Guangdong and Tianjin.
Zinc Consumption Severely Impacted after Production Restrictions at Galvanizers, SMM Reports
Import profit shrank from 500 yuan per tonne on June 23 and inverted to losses of around 300 yuan per tonne.
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