Weak Consumption Coupled with Difficult Cargo Pick-Up, Inventory Continued to Increase This Week [SMM Spot Zinc Ingot Inventory Weekly Review]

SMM Sep. 5:

        According to SMM research, as of Thursday (Sep. 4), the total zinc ingot inventory across seven major regions tracked by SMM stood at 148,900 mt, up 4,500 mt from Aug. 28 and 2,600 mt from Sep. 1, indicating rising domestic inventories. Although arrivals in Shanghai remained normal during the week, increased cargo pick-up by downstream users led to inventory depletion. Inventories in Tianjin and Guangdong continued growing due to production and transportation restrictions in the first half of the week coupled with slower cargo pick-up. Overall, inventories in the original three regions rose by 2,600 mt, while the seven-region total increased by 2,600 mt.