Zinc Ingot Social Inventory Dips 200 mt from this Monday

SHANGHAI, Feb 24 (SMM) -  SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 181,300 mt as of this Friday February 24, down 3,200 mt from a week earlier and 200 mt from this Monday (February 20).

In Shanghai, the market arrivals were average, and the trades declined slightly, resulting in a slight fall in inventory. In Tianjin, the overall arrivals were flat, but the outflows from warehouses shrank due to high zinc prices. The inventory in Tianjin was basically unchanged. In Guangong, the downstream alloy enterprises received acceptable orders, and the low market arrivals were eased by the outflows of warrants, allowing stable purchases on rigid demand. As a result, the inventory in Guangdong changed little.

Overall, the total inventory in Shanghai, Guangdong and Tianjin fell 1,200 mt, and that across seven major markets in China shed 200 mt.