SHANGHAI, Jun 24 (SMM) -
Total zinc inventories across seven major markets in China stood at 208,300 mt as of June 24, down 9,800 mt from June 20 and 15,300 mt from June 17.
Overall, the inventory in the seven markets continued to decrease.
In Shanghai, the decline in zinc prices drove up the demand in downstream enterprises, leading to a decline in the inventory in Shanghai market. In Tianjin, there were still arrivals this week amid rigid demand in the market. The demand was boosted by the fall in zinc prices, while goods under warrants increased in delivery, leading to a decrease in market inventory. In Guangdong, the arrivals have been affected due to the heavy rain in the southwest China, while the downstream procurement remained stable, resulting in a drop in market inventory.
Inventories in Shanghai, Guangdong and Tianjin fell by 10,200 mt, and inventories across seven markets decreased by 9,800 mt from June 20.
