Social inventories of zinc ingots across seven major markets in China declined

SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 77,100 mt as of Friday December 15, down 5,200 mt from December 8 and down 900 mt from December 11. Inventory in Shanghai increased mainly due to the increase in the arrivals of imported zinc ingots; in Guangdong, more shipments to downstream buyers thereby reduced arrivals in warehouses, thus the inventory dropped significantly; in Tianjin, there were still arriving shipments in the market, and downstream companies were replenishing stocks at low prices, reducing inventories slightly. Due to the heavy snowfall in the north, it is expected that delivery-taking may be limited. Inventory in Shanghai, Guangdong and Tianjin increased by a combined 600 mt.