SHANGHAI, Nov 23 (SMM) – Social inventories of refined zinc across Shanghai, Guangdong and Tianjin came in at 125,200 mt as of Friday November 23, down some 4,300 mt from Monday November 19 but up 2,200 mt from last Friday.
Fewer arrivals of imports and downstream purchases on lower prices eroded inventories in Shanghai this week.
In Tianjin market, fewer orders at downstream galvanising plants in the north slowed overall demand. This, together with arrivals from domestic smelters, grew stocks.
Weak downstream demand and domestic arrivals are likely to further grow social inventories in the three areas next week.
