Zinc Inventories in China Major Markets Down 5,500 T, SMM Says

SHANGHAI, Nov. 6 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong declined 5,500 to 318,600 tonnes this past week, according to SMM data.

Inventories fell across the three regions now that zinc smelters were unwilling to sell goods due to continuously falling zinc prices. Tianjin received no shipments from Zijin Mining due to railway transportation problems. But as the producer of Hongye zinc held back goods, inventory declines in Tianjin were limited.

Zinc inventories in Guangdong fell 200 tonnes as downstream buyers increased purchases at lower prices. Shanghai also saw a drop in zinc stocks with less inflows of imported zinc and some zinc smelters holding back goods. Meanwhile, some imported zinc in Shanghai was shipped to Tianjin, and downstream buying interest also improved in the latter half of the week, driving down local zinc inventories.

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