Zinc Inventories in China Major Markets Grow after Falling for 12 Consecutive Weeks

Published: Jun 3, 2016 15:36

Save

Combined zinc inventories in Shanghai, Tianjin and Guangdong grew 1,500 to 322,000 tonnes this past week, after falling for 12 weeks in a row, SMM reports.

SHANGHAI, Jun. 3 (SMM) – Combined zinc inventories in Shanghai, Tianjin and Guangdong grew 1,500 to 322,000 tonnes this past week, after falling for 12 weeks in a row, SMM reports.

Declines in zinc stocks in Shanghai contracted compared with the previous week, while Guangdong and Tianjin witnessed growth in zinc inventories, especially growth in Tianjin was noticeable.

“Rising zinc prices incentivized zinc smelters to sell, and this grew arriving shipments. Downstream demand, however, was weak. Besides, some goods were delivered to North China as premiums on zinc in Tianjin over Shanghai prices were higher than freight charges.”said one SMM zinc analyst.

“Zinc inventories in Shanghai dropped slowly as end-users refrained from buying due to high zinc prices.” the analyst added.

But total inventories in the three regions is expected to fall slightly next week, SMM predicts, as downstream buyers will replenish stocks ahead of the Dragon Boat Festival in China.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn