SMM7 March 17:
According to SMM, as of Friday, SMM's total zinc ingot inventory was 206700 tons, down 5700 tons from last Friday and 7500 tons from Monday.
Inventory fell in July, mainly in Shanghai and Tianjin, increased in Guangdong and slightly decreased in Jiangsu and Zhejiang. The lower reaches of the Shanghai area is just in need of procurement, and the output of the warehouse has declined to a certain extent, but due to the recent floods in many places across the country, affecting the arrival of goods in the market and little inflow of imported zinc, inventories have recorded a large drop; in Guangdong, due to the narrowing of the price gap between Shanghai and Guangdong last week, coupled with the decline in the proportion of direct delivery terminals, the market arrival has increased significantly; Tianjin received more goods last week, mainly digesting inventory this week. Overall, the original inventory in Shanghai, Guangdong and Tianjin fell by 4200 tons, while the inventory in seven places across the country dropped by 5700 tons.
