SMM News: Domestic Zinc Ingot Inventory Declines as of October 28

게시됨: Oct 28, 2024 13:53
[SMM Data] SMM News on October 28: According to SMM research, as of this Monday (October 28), the total inventory of zinc ingots in seven locations tracked by SMM stood at 122,400 tonnes, a decrease of 3,500 tonnes compared to October 21 and also a decrease of 3,500 tonnes compared to October 24, indicating a decline in domestic inventory. Inventory in the Shanghai area decreased, with limited arrivals at warehouses over the weekend. Coupled with some downstream buyers taking advantage of lower prices, the overall inventory decline was significant. Inventory in Guangdong also decreased, as arrivals in the region declined over the weekend. With downstream buyers purchasing based on rigid demand, overall inventory fell slightly. Inventory in Tianjin decreased, with zinc ingot arrivals still limited over the weekend. However, some galvanizing enterprises reduced their purchases and pickups due to environmental protection regulations, limiting the overall decline in inventory. Overall, inventory in the original three locations decreased by 4,500 tonnes, while inventory in the seven locations decreased by 3,500 tonnes.

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