Zinc Inventories in China Major Markets down Further This Week

SHANGHAI, Jul. 29 (SMM) - Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 1,800 to 318,800 tonnes this week, according to SMM data.

Zinc inventory decline was contributed by Shanghai. Inflows of imported zinc remained low, while arriving shipments from some zinc smelters were limited due to maintenance. But downstream purchases increased, reducing Shanghai’s inventories.

Zinc inventories in Tianjin and Guangdong grew. Downstream buyers purchased actively as zinc prices fell, growing outward shipments. But Guangdong’s consumption was still soft. Shipments that had been postponed by transportation problem arrived in Tianjin, so local zinc stocks also added.

Total inventories in the three regions are expected to grow next week, SMM anticipates, due mainly to the off-season. 

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