Zinc Ingot Social Inventories Across Seven Major Markets In China

SMM data shows that zinc ingot social inventories across seven major markets in China totalled 107,400 mt as of June 16, down 100 mt from Monday June 12 but up 1,600 mt from Friday June 9. Inventories in Shanghai changed little amid limited shipments arrivals and downstream buyers purchasing as required.

Inventories in Guangdong increased noticeably. Registered warrants of Qilin and Chihong brands increased due to the delivery of the SHFE June zinc contract last week, while shipments to downstream buyers were hampered by higher zinc prices. Inventory in Tianjin increased marginally mainly due to the delivery. Due to the decrease in arrivals in Zhejiang last week, the inventory dropped significantly. Inventories in Shanghai, Guangdong and Tianjin rose 3,200 mt, and inventories across seven Chinese markets decreased 100 mt.