SHANGHAI, Sept. 11 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong added 16,100 to 290,000 tonnes this past week, SMM data show. Inventories grew across the three markets.
Shanghai’s stocks increased, helped by arriving shipments of imported zinc and normal supplies from zinc smelters. Tianjin’s supplies of Shangluo, Hongye and Zijin zinc increased. Downstream purchases, however, were modest now that they had built stocks ahead of the 3-day holiday, adding to local inventories. In Guangdong, growing supplies of some brands, combined with continuous inflows of imported zinc, raised local inventories.
Total inventories in the three markets will continue to grow, said an SMM zinc analyst, due to inflows of imported zinc and higher operating rates at smelters.
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