Zinc Inventories Pull back in China Major Markets, SMM Reports

Published: Jul 3, 2017 12:02

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Combined zinc inventories in Shanghai, Tianjin and Guangdong decreased 11,400 to 109,800 tonnes last week, SMM data show.

SHANGHAI, Jul. 3 (SMM) – Combined zinc inventories in Shanghai, Tianjin and Guangdong decreased 11,400 to 109,800 tonnes last week, SMM data show.

Zinc Prices to Strengthen This Week, SMM Foresees

Zinc inventories in both Shanghai and Tianjin fell, while those in Guangdong added. Supplies in Guangdong were steady. Downstream buyers lacked buying interest since they had built some stocks previously. Inventories fell in Tianjin because of fewer arriving shipments from Zijin Mining. Besides, production at galvanizers recovered after environmental protection inspections in north China. Downstream producers purchased as needed. Arriving shipments of imported zinc decreased in Shanghai due to unfavorable SMM/LME zinc price ratio. When combined with robust consumption, zinc inventories in Shanghai continued falling, SMM said.

Chinese Zinc Smelters Hike Zinc Concentrate TCs, SMM Reports

Total inventories in the three regions will remain largely unchanged in the coming week, SMM predicts.

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zinc inventories Shanghai zinc inventories Guangdong zinc inventories Tianjin zinc inventories

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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