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 199,500 mt as of Wednesday April 3, up 200 mt from March 28 but down 8,300 mt from April 1. Inventory in Shanghai decreased during the week, mainly due to the stockpiling ahead of Qingming Festival. Inventory in Guangdong decreased, mainly due to the small number of cargoes arriving in Guangdong and normal stockpiling by downstream enterprises for Qingming Festival. Inventory in Tianjin decreased significantly, with normal cargoes arriving in Tianjin during the week. Downstream enterprises actively took deliveries of orders restocked previously for Qingming Festival. Inventory in Shanghai, Guangdong and Tianjin decreased by a combined 8,300 mt.