SHANGHAI, Apr. 29 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 16,800 to 371,800 tonnes this past week, SMM reports.
Total inventories in the three regions decreased for 8 weeks in a row. Inflows of imported zinc were limited over the last month. When combined with maintenance at some zinc smelters, arriving shipments decreased. Stock-building ahead of the May Day holiday also helped deplete inventories, SMM explained.
Shanghai witnessed the biggest inventory decline of the three regions. Some goods were shifted to the other two regions for higher prices.
Total inventories in the three regions should continue to fall next week, SMM said.
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