[SMM data] May 29th SMM Seven Zinc Ingot Social inventory

SMM5 March 29: according to SMM, as of Friday, the total inventory of SMM zinc ingots in Seven places was 215600 tons, down 10100 tons from last Friday and 6500 tons from Monday.

This week, the removal of zinc ingots is mainly concentrated in Guangdong and Tianjin, with a slight increase in Shanghai. Storage in Shanghai is more concentrated, under the repair of superimposed import price, the import loss narrowed, a large number of imported zinc such as SMC inflow more, downstream enterprises in the second half of the week to resume purchasing efforts, the overall willingness to buy improved. Guangdong has fewer warehouses and an increase in outbound storage, mainly due to the widening price gap between Shanghai, Guangdong and Tianjin, and some traders pull goods to Tianjin and Ningbo, driving the main depots out of the warehouse, but they are still on their way and are expected to arrive next week. There is more storage in Tianjin, and it warms up in the second half of the week. It is expected that some Guangdong zinc ingots and a large number of purple gold will arrive next week. Overall, the original inventory in Shanghai, Guangdong and Tianjin fell by 8400 tons, while the inventory in seven places across the country dropped by 10100 tons.