【SMM data】SMM News on March 7th: According to SMM research, as of last

Published: Mar 7, 2024 14:52

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【SMM data】SMM News on March 7th: According to SMM research, as of last Thursday (March 7th), the total inventory of zinc ingots in seven SMM locations was 180,300 tons, an increase of 6,200 tons from February 29th, and an increase of 1,000 tons from March 4th. Domestic inventory has increased. Shanghai's inventory has increased during the week, mainly due to the continuous inflow of imported zinc ingots to Shanghai, continuous arrival of warehouses during the week, and downstream reluctance to buy at high prices, resulting in a slight increase in overall inventory. In the Guangdong region, the reduction of zinc ingot inventory is the main trend, mainly due to the small amount of arrivals in Guangdong during the week, coupled with downstream demand for low-priced deliveries to supplement inventory, leading to a continued decrease in inventory. Inventory in Tianjin region increased significantly, mainly due to the impact of environmental protection production restrictions on downstream demand in Hebei, Tianjin and other regions during the two sessions, resulting in poor consumption and continued increase in inventory. Overall, the inventory in the original three locations increased by 5,000 tons, and the inventory in seven locations increased by 10,000 tons.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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