SHANGHAI, Dec. 18 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong decreased 2,600 to 322,700 tonnes this past week, SMM finds.
Guangdong’s zinc stocks were down slightly. Local supplies of some brands were limited due to zinc smelters unwilling to sell or directly delivering goods to end-users. Zinc inventories in Tianjin posted a slight growth last week due to large shipments from Chifeng NFC Zinc Industry Company and Shaanxi Zinc Industry’s Shangluo Smelting Factory and inflows of imported goods. Shipments from Zijin Mining were limited, though.
Shanghai saw inventories stay stable, with downstream buyers purchasing at low at the week’s end.
“Total inventories in the three regions should grow next week as zinc smelters sell aggressively with month-end cash tightness.” said an SMM zinc analyst.
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