SMM Zinc Inventory Report: Domestic Stocks Rise Marginally Amid Regional Variations

Publicado: Sep 19, 2024 11:51
【SMM Data】SMM reported on September 19th: According to SMM research, as of Thursday (September 19th), the total inventory of zinc ingots in SMM's seven locations amounted to 114,500 tonnes, a decrease of 3,100 tonnes from September 9th but an increase of 1,100 tonnes from September 12th, indicating an increase in domestic inventory. Inventory in Shanghai increased, as imported zinc ingots arrived at warehouses in the city during the week, coupled with rigid downstream demand purchases amid high zinc prices post-holiday, leading to a slight overall increase in inventory. Inventory in Guangdong increased significantly, mainly due to a larger number of warehouse arrivals during the week, while downstream demand did not show marked improvement, resulting in a larger increase in inventory. Inventory in Tianjin continued to decrease, mainly because of the maintenance of smelters, leading to a sustained shortage of arrivals at Tianjin warehouses next week, combined with rigid downstream demand for replenishment post-holiday, causing the overall inventory to continue to decline. Overall, inventory increased by 1,500 tonnes in the original three locations and by 1,100 tonnes in the seven locations.

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