Zinc Ingot Social Inventory Up 400 mt from this Monday

SHANGHAI, Nov 11 (SMM) - SMM data shows that zinc ingot social inventories across seven major markets in China totalled 60,500 mt as of November 11, up 400 mt from this Monday (November 7) and up 1,000 mt from a week earlier (November 4). In Shanghai, zinc ingots of some brands began to arrive in the market in the middle of the week, while the purchasing demand among downstream buyers declined due to the intensive stockpiling in the previous week. As a result, the inventory in Shanghai added slightly. In south China, the arrivals in the market increased slightly on a weekly basis, but the overall supply was relatively tight. The sellers in the market were more than buyers, which resulted in slack transactions and a slight accumulation in the inventory in Guangdong. The arrivals in the Tianjin market were low as many brands such as Zijin zinc were sent to Shanghai, and meanwhile the downstream enterprises purchased as needed. Therefore, the inventory in Tianjian dropped slightly. Taken together, inventories in Shanghai, Guangdong and Tianjin added 300 mt, and inventories across seven major markets in China gained 400 mt.