SHANGHAI, Jul. 1 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 1,000 to 327,900 tonnes this week, SMM data show.
Zinc stocks in Shanghai decreased due to fewer arriving shipments of some brands and imported zinc, SMM understands.
Zinc stocks in Guangdong and Tianjin grew noticeably. Arriving shipments increased as zinc smelters sold proactively at high zinc prices. But at the same time, outward shipments decreased as downstream buyers took a wait-and-see stance against high prices.
Total inventories in the three regions are expected to stabilize next week, SMM anticipates. Zinc smelters will continue to sell actively due to high zinc prices.
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