SMM: Zinc Inventories Rise in Seven Regions, Driven by Increases in Guangdong and Tianjin

게시됨: Sep 2, 2024 13:51
[SMM Data] SMM News on September 2: According to SMM research, as of Monday this week (September 2), the total inventory of zinc ingots in seven regions tracked by SMM reached 128,800 tonnes, an increase of 100 tonnes from August 26 and 1,700 tonnes from August 29, indicating an increase in domestic inventory. The inventory in Shanghai continued to decline. Although a small amount of imported zinc ingots arrived at the weekend, the arrival of domestically produced zinc ingots was still low, leading to a further decrease in warehouse inventory. The inventory in Guangdong increased, but the improvement in warehouse arrivals over the weekend was not significant. However, due to the high zinc prices and poor downstream consumption, the inventory continued to increase. The inventory in Tianjin also increased, with zinc ingots arriving at the warehouse over the weekend. Although downstream galvanized consumption has recovered, it is still limited, resulting in an overall increase in inventory. Overall, the inventory in the original three regions increased by 2,600 tonnes, and the inventory in the seven regions increased by 1,700 tonnes.

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