Zinc Inventory Increased in SHFE, Price Likely to Decline

SHANGHAI, Nov.8 (SMM)－According to the data from SHFE, zinc inventory in Shanghai climbed to 86,518 tons last Friday. The two-week increase has added 27.6% unsold zinc to the original inventory. Zinc price went down as the number of deals made in Shanghai, Guangdong and Tianjin were no better than before. SMM believes that the zinc inventory will go on with its increase as the zinc consumption stagnated at a low level. It should be on the alert that zinc price is under pressure and likely to fall.

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