Zinc ingot inventories across China’s seven major regions declined

According to an SMM survey, as of Thursday (December 19), total zinc ingot inventories across seven regions tracked by SMM stood at 82,200 mt, down 9,200 mt from December 12 and 7,200 mt from December 16. Domestic inventories declined. Shanghai inventories fell due to continued low arrivals at warehouses and downstream restocking purchases. Tianjin inventories also declined due to persistent transportation disruptions and limited arrivals at warehouses. Guangdong inventories decreased slightly as normal arrivals at warehouses coincided with falling futures prices, prompting some downstream enterprises to buy the dip. Overall, inventories in the three regions decreased by 6,800 mt, while total inventories across seven regions fell by 7,200 mt.