Social inventories of zinc ingots across seven major markets in China

SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 217,700 mt as of Thursday April 18, up 6,700 mt from April 11 but down 500 mt from April 15. During the week, inventories in Shanghai recorded an increase. Imported zinc ingots continued to flow into Shanghai, and downstream companies took-deliveries as required. Inventories in Guangdong also recorded an increase, mainly due to the large amounts of shipments arrivals during the week and the cautious purchase of downstream companies against high spot prices. Inventories in Tianjin decreased, mainly due to the on-demand delivery-taking of downstream companies and large quantities of shipments to downstream producers from traders, affecting warehouse arrivals. Inventories in Shanghai, Guangdong and Tianjin rose 700 mt.