Total zinc ingot inventory in seven regions in China was 162,300 mt

According to SMM survey, as of Thursday February 22, the total zinc ingot inventory in seven regions in China was 162,300 mt, an increase of 64,000 mt from February 8, and an increase of 3,300 mt from February 19. Inventories in Shanghai and Guangdong increased, mainly due to the normal arrivals of goods from warehouses after logistics resumed and smelters resumed normal production after the holiday. Downstream demand did not fully recover in the first week after the holiday, thus overall inventories continued to increase. Inventories in Tianjin decreased, mainly due to heavy snowfall during the week, which delayed transportation thereby affecting the arrivals of goods at warehouses. Meanwhile, downstream gradually resumed production and began to take deliveries. Inventories in Shanghai, Guangdong and Tianjin rose 8,700 mt.