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Zinc Ingot Social Inventory Gains 5,700 mt Over Weekend

iconDec 26, 2022 17:00
Source:SMM
Altogether, the overall inventory did not changed much. Taken together, inventories in Shanghai, Guangdong and Tianjin rose 4,100 mt, and inventories across seven major markets in China gained 5,700 mt.

SHANGHAI, Dec 26 (SMM) - SMM data shows that zinc ingot social inventory across seven major markets in China totalled 50,100 mt as of December 26, down 5,900 mt from last Monday (November 19) and up 5,700 mt over the weekend. In Shanghai, there were a few arrivals during the weekend, while the rebounding zinc prices suppressed the purchasing interests among downstream buyers. Therefore, the outflows from the warehouses were low, which led to a slight increase in the inventory. In Tianjin, the normal shipments resumed, which contributed to concentrated arrivals in the market. But the downstream enterprises have basically finished stockpiling, so the inventory in Tianjin rose slightly. In Guangdong, zinc ingots available in the market were not sufficient, but the trades in the market were also thin. Altogether, the overall inventory did not changed much. Taken together, inventories in Shanghai, Guangdong and Tianjin rose 4,100 mt, and inventories across seven major markets in China gained 5,700 mt.


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