SMM zinc ingot social inventory in seven regions decreased by 4,900 mt [SMM data]

According to an SMM survey, as of this Thursday (September 5), the total zinc ingot inventory in seven regions surveyed by SMM was 123,900 mt, a decrease of 3,200 mt compared to August 29 and a decrease of 4,900 mt compared to September 2. Inventory in Shanghai recorded a significant decrease. Continued maintenance at smelters resulted in fewer warehouse arrivals during the week and a reduction in warehouse inventory. Inventory in Guangdong slightly decreased. Although warehouse arrivals increased during the week, the increase was limited; downstream enterprises engaged in bargain hunting, leading to a continued decline in warehouse inventory. Inventory in Tianjin decreased as well. With no improvement in zinc ingot arrivals at warehouses during the week, overall inventory dropped. Overall, the inventory in three regions decreased by 4,900 mt, and that in seven regions (Shanghai, Guangdong, Tianjin, Jiangsu, Zhejiang, Shandong and Hebei) decreased by 4,900 mt.