SMM5 March 25: according to SMM, as of Monday, the total inventory of SMM zinc ingots in Seven places was 222100 tons, down 3600 tons from last Friday and 5600 tons from last Monday.
There is a small accumulation of storage in Shanghai and Tianjin at the weekend, and the reduction in Guangdong is obvious. In the early stage, some zinc ingots were imported into the warehouse one after another, and the amount of zinc ingots in Shanghai and Tianjin increased more at the weekend. The concentration of depots in Guangdong at the weekend was mainly due to the decline in zinc prices on Friday and the increased willingness to buy downstream, which led to the removal of warehouses. Overall, the original inventory in Shanghai, Guangdong and Tianjin fell by 1900 tons, while the inventory in seven places across the country dropped by 3600 tons.