SHANGHAI, Aug. 14 (SMM) - Zinc inventories in Tianjin and Shanghai grew this past week. Supplies to Tianjin from zinc smelters increased, while outward shipments were low on soft demand. Shanghai received some shipments from South China and also a large inflow of imported zinc.
Zinc inventories in Guangdong fell. Shipments from smelters declined against low zinc prices, and some smelters also delivered goods from Guangdong to Shanghai due to the price spread between the two.
Shanghai’s inventories are expected to climb further next week due to additional influx of imported zinc and anemic demand, SMM says.
Combined inventories in Shanghai, Tianjin and Guangdong were up 15,700 to 192,500 tonnes this past week, SMM reports.
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