SHANGHAI, Dec. 11 (SMM) - Combined inventories in Shanghai, Tianjin and Guangdong fell 1,600 to 325,400 tonnes this past week, according to SMM data.

Zinc inventories fell in both Tianjin and Guangdong, while those in Shanghai grew. The decline in Tianjin is due to fewer shipments from Chifeng NFC Zinc Industry Company.

Outward shipments in Guangdong were largely unchanged as downstream buying interest remained weak, while a few zinc smelters cut output or held back goods, reducing local inventories.

In Shanghai, most zinc smelters sold steadily under term orders. When coupled with inflows of imported zinc, local zinc inventories climbed.

“Total inventories in the three regions are expected to hold steady next week,” said an SMM zinc analyst. “Despite continuous inflows of imported goods, zinc inventories will fall should China’s State Reserve Bureau (SRB) build zinc reserves.”

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