SHANGHAI, Jul 16 (SMM) – Zinc inventories in China fell this week.
SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 5,900 mt in the week ended July 16 to 114,400 mt. The stocks fell 7,600 mt from Monday June 12.
Stocks in Shanghai decreased on week but was slightly higher than last Friday as market arrivals improved. In south China's Guangdong, market arrivals fell slightly and downstream purchase increased when zinc prices declined, leading to a decrease in stocks. Stocks in Tianjin fell as rebounded steel prices led to the improvement of downstream orders and market demand improved when zinc prices fell.
Stocks across the three major trading hubs (Shanghai, Tianjin and Guangdong) fell 5,100 mt this week, after a 6,200 mt increase last week.