SHANGHAI, Mar. 11 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 2,900 to 450,300 tonnes this past week, according to SMM data.
Zinc stocks in both Tianjin and Guangdong declined. Some zinc smelters refrained from selling a few brands to the two regions. Meanwhile, outward shipments increased on improving downstream demand.
Inventories in Shanghai grew further. Some shipments were delivered from Tianjin to Shanghai as the price spread between the two regions was 100-150 yuan per tonne.
Total inventories in the three regions should fall slightly next week, SMM says, citing stronger demand and increasing outward shipments.
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