SMM China Zinc Inventory across Major Market Rose 6,100 mt on Week

SHANGHAI, Apr 15 (SMM) - Total zinc ingots inventories across seven major markets in China stood at 284,100 mt as of April 15, up 6,100 mt from April 8, down 3,700 mt from April 11. Domestic inventories increased. In Shanghai market, due to unchanged transport restrictions, the costs of delivery increased sharply, resulting in little change in the inventory of Shanghai market. In Guangdong market, the arrivals were stable. But the recurred pandemic lowered the direct delivery of downstream, and the downstream picked up goods from the warehouses, resulting in increasing shipments. Downstream consumption has not seen an improvement with increasing inventory in Guangdong market. In Tianjin, some brands arrived amid concentrated deliveries. In the case of poor profits of enterprises in Tianjin, the operating rates were not high and the weak consumption has led to the sharp increases in Tianjin inventory. Inventories in Shanghai, Guangdong and Tianjin rose 8,300 mt, and inventories across seven Chinese markets increased 6,100 mt.