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Home / Metal News / China Zinc Inventories Grow in Major Markets

China Zinc Inventories Grow in Major Markets

Jan 29, 2016 17:59

Source:SMM

Combined zinc inventories in Shanghai, Tianjin and Guangdong added 11,400 to 336,600 tonnes this past week, SMM data show.

SHANGHAI, Jan. 29 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong added 11,400 to 336,600 tonnes this past week, SMM data show.

Stocks in Shanghai were stable, with lower shipments from Chihong Zn&Ge from maintenance. Both Guangdong and Tianjin reported higher stocks. Outward shipments decreased after downstream producers suspended operation ahead of the 2016 Chinese New Year holiday. Arriving shipments were stable. Some traders in Tianjin replenished stocks at lows, adding to local warehouse inventories, despite no arriving shipments of Zijin zinc.

Total zinc inventories in the three regions should grow further next week, SMM predicts. Outward shipments will continue falling due to downstream closures for the holiday.

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