SMM4, April 24: according to SMM, as of Friday (April 24), the total inventory of zinc ingots in SMM Seven places was 246500 tons, down 25700 tons from last Friday (April 17) and 19100 tons from Monday (April 20).
The reduction of warehousing in Shanghai and Tianjin area is relatively limited this week. The downstream enterprises in Shanghai area just need to buy and maintain the normal outflow of warehousing, and the arrival restriction in Tianjin area affects the total amount of warehousing. Guangdong contributed mainly to the decline in inventories. It is reported that due to the widening spot price spread of zinc ingots from Guangdong to East China, as well as freight concessions driven by the decline in crude oil, some sources of goods have been transferred to East China and North China, and are still on the way. It is expected to arrive at downstream enterprises or warehouses in North and East China next week. Overall, inventories in Shanghai, Guangdong and Tianjin fell by 22800 tons, while inventories in seven places nationwide fell by 25700 tons.