SMM social inventory of zinc ingot in seven regions decreased by 6,300 mt [SMM data]

According to the SMM survey, as of Monday (September 9), SMM total zinc ingot inventory in seven regions was 117,600 mt, down 11,200 mt from September 2 and 6,300 mt from September 5, with domestic inventory recording a reduction. The inventories in Shanghai and Tianjin showed a significant decrease due to fewer zinc ingot arrivals at warehouses over the weekend and dip buying by downstream enterprises amid falling zinc prices; inventory in Guangdong recorded an increase mainly due to improved warehouse arrivals over the weekend and just-in-need procurement by downstream enterprises, leading to a slight rebound in zinc ingot inventory. Overall, the original inventory in three regions decreased by 4,900 mt, while the inventory in seven regions decreased by 6,300 mt.