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 212,900 mt as of Thursday May 9, up 1,300 mt from April 29 but down 3,400 mt from May 6. The inventory in Shanghai and Tianjin decreased, mainly due to post-holiday stockpiling by downstream buyers and normal shipments arrivals. The inventory in Guangdong decreased significantly. The maintenance of some smelters affected shipments, limiting arriving shipments at the warehouses. Meanwhile, downstream buyers purchased and took delivery. Inventories in Shanghai, Guangdong and Tianjin fell 2,500 mt.