SHANGHAI, Aug. 29 (SMM) - Approximately 70-80 per cent of domestic zinc inventories are now held by several traders, one domestic business newspaper reported.
Is it that high?
As of Aug. 25, inventories in China’s three major trading markets totaled 108,900 tonnes, with 64,600 tonnes in Shanghai and 32,000 tonnes in Guangdong, according to SMM data.
Inventories in warehouses mainly consist of those of smelters, traders and some downstream producers, and total inventories held by traders now account for about 40-50 per cent of the total, SMM learns.
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