SHANGHAI, Mar 16 (SMM) - According to SMM survey, the average operating rate of zinc oxide enterprises was 63.6% last week, up 3.2 percentage points from the previous week. In terms of raw material inventory, zinc oxide enterprises were more willing to restock amid the falling zinc prices. Despite zinc slag’s high price coefficient and low supply, the overall raw material stocks were still on the rise. As for the orders, downstream enterprises became more active in placing orders on the zinc price drop in the second half of last week, resulting in a significant decline in the finished product inventories held by zinc oxide enterprises. Many zinc oxide companies did not ramp up their production since they believed that the temporary order growth was mainly contributed by the short-lived downstream stockpiling, and the demand from tire companies would remain poor. On the whole, the operating rates of zinc oxide enterprises will not change much.
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