SHANGHAI, Dec. 25 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 2,400 to 320,300 tonnes this past week, according to SMM.
Consumption in Guangdong was stable, and arriving shipments there grew only slightly, with inventories down.
Tianjin’s zinc stocks declined slightly. Arriving shipments from Zijin Mining were limited as the smelter held back goods. Chifeng NFC Zinc Industry Company and Shaanxi Zinc Industry’s Shangluo Smelting Factory directly delivered goods to downstream buyers. Traders purchased modestly and mainly depleted inventories.
Shanghai reported a slight growth in zinc inventories. Zinc smelters sell off goods, despite lower inflows of imported zinc. Downstream purchases decreased.
“Total inventories in the three regions should remain largely stable next week due to muted trading at the year’s end.” an SMM zinc analyst predicts.
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