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 77,200 mt as of Friday January 12, down 4,400 mt from January 5 but up 500 mt from January 8. The inventory in Shanghai increased significantly due mainly to the increased arrivals of domestic regular brands. There was replenishment from cargoes from north China and imported zinc. Inventory in Guangdong decreased as smelters reduced shipments to south China and downstream companies actively replenished inventories during dips. In Tianjin, cargoes arrived normally, and warehouse warrants increased. These,, combined with the impact on downstream enterprises from environmental protection, grew local inventories. Inventories in Shanghai, Guangdong and Tianjin rose 900 mt.