Total zinc ingot inventory in seven regions in China

According to SMM survey, as of Thursday May 16, the total zinc ingot inventory in seven regions in China was 215,000 mt, an increase of 2,100 mt from May 9, and an increase of 400 mt from May 13. The inventory in Shanghai decreased significantly due to less arrivals at warehouses during the week and dip buying; the inventory in Guangdong decreased slightly due to less shipments arrivals at warehouses from smelters undertaking maintenance as well as delivery-taking by downstream companies; the inventory in Tianjin increased. Smelters continued to ship cargoes to warehouses, while the high zinc price during the week resulted in poor downstream demand. The overall inventory in Zhejiang Province increased significantly due to the arrivals of imported zinc ingots during the week. Inventories in Shanghai, Guangdong and Tianjin fell 1,300 mt.