SHANGHAI, Jul. 17 (SMM) - Zinc inventories in Tianjin are expected to increase next week due to shipments from Zijin Mining which has just restarted from maintenance cycle, SMM says. Supply from other smelters will unlikely report any decline.
Combined inventories in Tianjin, Guangdong and Shanghai should also grow slightly next week with inventories in Shanghai holding stable, SMM predicts.
Tianjin’s zinc inventories were steady this past week as both outward and inward shipments were high, according to SMM data. Shanghai’s stocks fell due to active outbound-shipments and limited inflows of imported zinc. Inventories in Guangdong grew on large arriving shipments and soft demand.
Combined inventories in the three major markets in China decreased 5,300 to 260,200 tonnes this past week.
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