Social inventories of zinc ingots across seven major markets in China

SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 100,000 mt as of Friday October 13, up 7,900 mt from October 7 but down 1,500 mt from October 9. Inventories changed most significantly in Guangdong and Tianjin. In Guangdong, arriving shipments decreased, while shipments grew thanks to buying on the dip, driving significant decline in inventories. In Tianjin, smelters that had been shut down due to maintenance mostly resumed normal production, growing arriving shipments noticeably. The performance of galvanising in the north after the holidays was lacklustre, and the overall purchasing enthusiasm was weak. The local inventory increased significantly. In Zhejiang and Shandong, driven by the replenishment of stocks at low prices by downstream buyers, the inventory also decreased. Inventory in Shanghai, Guangdong and Tianjin increased by a combined 300 mt.