Zinc Inventories in China Major Markets Fall 12th Consecutive Week

Published: May 27, 2016 15:57

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Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 22,900 to 320,400 tonnes this past week, SMM reports.

SHANGHAI, May 27 (SMM) – Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 22,900 to 320,400 tonnes this past week, SMM reports.

Declines were more significant compared with the previous week. SMM understands zinc smelters were reluctant to sell as zinc prices fell, while downstream purchases improved. In the meantime, premiums on zinc in Tianjin over Shanghai prices expanded nearly 100 yuan to 130-270 yuan per tonne. So some zinc smelters stepped up supplies to Tianjin whilst reducing those to Shanghai.

Further fall in total inventories in the three regions is still expected next week, SMM predicts. But the decline should be less significant as month-end cash tightness will dampen downstream buying interest.

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Shanghai zinc inventories Guangdong zinc inventories Tianjin zinc inventories zinc prices zinc smelters

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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