SHANGHAI, Jun 1 (SMM) – Social inventories of zinc as of Friday June 1 dipped 1,800 mt from a week ago and stood at 118,300 mt across Shanghai, Guangdong and Tianjin markets, SMM data showed.
Declines in inventories in Guangdong and Tianjin contributed to the dip. While consumers in those two markets cut their procurement due to high prices, inventories still fell as limited deliveries from smelters and bonded areas arrived at warehouses. Compared to last Friday, inventories shrank 2,500 mt to 20,800 mt in Guangdong, and shrank 3,300 mt to 23,620 mt in Tianjin.
The Shanghai market saw its inventories nudge up due to thin trading activity. Some deliveries from bonded areas arrived but downstream consumers purchased only on demand. Inventories in Shanghai increased 4,000 mt from last Friday and came in at 73,900 mt.
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