SMM China Zinc Inventory in Major Markets Rose 5,200 mt on Week

SHANGHAI, Apr 8 (SMM) - Total zinc ingots inventories across seven major markets in China stood at 278,000 mt as of April 8, up 5,200 mt from April 1, down 300 mt from March 6. Domestic inventories increased. Overall, the market inventory remained unchanged under the impact of the pandemic. In Shanghai market, there were no shipments from warehouses due to the pandemic prevention and control measures but only a small number of arrivals in some warehouses. Some holders may intend to export with small amount of goods and because of the difficulty in picking up goods, inventory in Shanghai continued to increase. In Tianjin market, the overall arrivals were relatively stable, but the operating rates of downstream were weak and the inventory rose due to the Qingming Festival holiday and transport restrictions in Hebei. In Guangdong market, the arrivals were rather less with slight increase in the inventory. Inventories in Shanghai, Guangdong and Tianjin rose 7,500 mt, and inventories across seven major Chinese markets increased 5,200 mt.