SHANGHAI, Jul. 10 (SMM) – Combined zinc inventories in Shanghai, Tianjin and Guangdong increased 5,500 mt to 116,800 mt this past week, SMM data showed.
Inventories in Guangdong decreased slightly, while those in both Tianjin and Shanghai grew.
Tianjin’s inventories increased with arriving shipments of Zijin zinc and fewer purchases by downstream buyers, SMM said. Shanghai witnessed additional inflows of imported zinc. When combined with steady arriving shipments of domestic zinc and weak trading, local inventories increased.
Total inventories in the three regions will increase further in the coming week with arrivals of imported zinc, SMM predicts.
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