SHANGHAI, Nov 22 (SMM) – Social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased by 5,800 mt from last Friday November 15 and 5,700 mt from Monday November 18 to 129,300 mt as of November 22, showed SMM data.
Shanghai and Guangdong contributed to the sharp decline in inventories, as healthy orders encouraged downstream consumers to step up purchases after zinc prices tumbled.
Orders for zinc alloy die-castings and galvanised structural parts improved in east China, while orders for zinc alloy die-castings remained steady in the south.
Zinc stocks in Tianjin inched up this week, as high-end cargoes arrived and anti-smog curbs affected operations at downstream consumers in Hebei.
Northern zinc consumers are likely to recover to normal production next week.