SHANGHAI, Aug. 7 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong are expected to fall slightly or hold stable next week, SMM says.
Shanghai’s zinc stocks will unlikely grow until Friday next week. There have been shipments delivered from Shanghai to North China in the last three weeks, and shipments of imported zinc will not arrive until late next week. However, Tianjin’s zinc inventories are expected to grow next week. Supplies from the producer of Hongye zinc and Zijin Mining to Tianjin were modest this past week, but arriving shipments increased at the week’s end.
Guangdong reported a slight fall in zinc stocks this past week due to the expanding price spread between Guangdong and Shanghai which led to fewer shipments to the first from smelters.
Combined zinc inventories in Shanghai, Tianjin and Guangdong were 243,400 tonnes this past week, down 15,300 tonnes from a week earlier.
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