SHANGHAI, May 13 (SMM) – Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 10,600 to 350,700 tonnes this past week, SMM reports.
Some goods were shipped from Shanghai to Tianjin as the price spread between Shanghai and Tianjin was bigger than freight charges. Zinc smelters preferred to deliver goods to Tianjin, reducing arriving shipments in Shanghai. But arriving shipments in Tianjin were also limited, with inventories down. Outward shipments in Guangdong increased due to bargain hunters, so local inventories also slid.
Fall in total inventories in the three regions should shrink next week, SMM predicts, citing recovery at those returning from maintenance.
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