SHANGHAI, Jun 8 (SMM) – Social inventories of zinc as of Friday June 8 increased 12,900 mt from Monday June 4 and stood at 131,300 mt across Shanghai, Guangdong and Tianjin, SMM data showed.
Inventory in Shanghai rose 17,600 mt this week due to an inflow of imported zinc and sluggish downstream demand on high zinc prices. Inventory inched up 300 mt during the week in Guangdong, but declined 5,000 mt in Tianjin with fewer deliveries as more smelters in north China underwent maintenance.
We expect inventory in Shanghai to rise further next week with as imported zinc continues to enter the market.
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