SMM zinc ingot social inventory in seven regions decreased by 1,200 mt [SMM data]

According to the SMM survey, as of Thursday (November 7), the SMM zinc ingot inventory in seven regions was 120,000 mt, an increase of 1,100 mt compared to October 31, and a decrease of 1,200 mt compared to November 4, with domestic inventory recording a reduction. Inventory in Shanghai recorded a decrease, with fewer warehouse arrivals during the week, coupled with some downstream enterprises picking up goods at low prices, leading to an overall inventory decline. Inventory in Guangdong recorded an increase, mainly due to more warehouse arrivals during the week. Inventory in Tianjin recorded a decrease, with no improvement in warehouse arrivals during the week and downstream just-in-time procurement. Overall, the inventory in these three regions decreased by 1,100 mt, and the inventory in seven regions decreased by 1,200 mt.