Zinc Inventory Fell 4,000 mt on Week

SHANGHAI, Sep 10 (SMM)—Total zinc inventories across seven Chinese markets stood at 119,600 mt as of September 10, down 2,500 mt from September 6 and 4,000 mt from September 3.

Shanghai saw a balance between supply and demand as arrivals of cargoes increased and downstream plants properly restocked goods. Inventories in Guangdong increased further as higher zinc prices suppressed downstream demand and arrivals of goods stabilised in the spot market. Shipments from Tianjin rose sharply due to high discounts of spot quotes against east China market, less shipments by smelters and transfer of inventories to east China. Inventories in Shanghai, Guangdong and Tianjin fell 3100 mt, and inventories across seven Chinese markets decreased 4000 mt.