Zinc Inventories in SMM's Seven Regions Decline Sharply Amid Falling Prices and Strong Downstream Demand

게시됨: Sep 9, 2024 13:26
[SMM Data] SMM news on September 9: According to SMM research, as of this Monday (September 9), the total inventory of zinc ingots in SMM's seven major regions was 117,600 tonnes, a decrease of 11,200 tonnes from September 2 and 6,300 tonnes from September 5, indicating a decline in domestic inventories. Notably, inventories in Shanghai and Tianjin regions declined significantly, with fewer zinc ingots arriving at warehouses over the weekend. Coupled with declining zinc prices, downstream enterprises seized the opportunity to buy at lower prices, leading to a continued decrease in overall warehouse inventories. In contrast, inventories in Guangdong increased slightly, mainly due to improved arrivals at warehouses over the weekend and rigid demand-driven procurement by downstream enterprises, resulting in a slight rebound in zinc ingot inventories. Overall, inventories in the original three regions decreased by 4,900 tonnes, while those in the seven regions decreased by 6,300 tonnes.

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