China Zinc Ingot Social Inventory down 5,500 mt from May 15

SHANGHAI, May 19 (SMM) - Zinc ingot inventories across seven major Chinese markets totalled 116,900 mt as of May 19, down 5,500 mt from May 15 and 7,200 mt from May 12. SMM survey showed that the inventory in Shanghai, Guangdong and Tianjin declined 3,500 mt. In Guangdong and Shanghai markets, the downstream companies purchased some goods when zinc prices dropped, and the spot arrivals were not high. The inventory in the Tianjin market also decreased, which was contributed by the decline in spot shipments from smelters.