Total zinc ingot inventory in the seven Chinese markets

According to the SMM survey, as of Thursday May 30, the total zinc ingot inventory in the seven Chinese markets tracked by SMM was 209,400 mt, a decrease of 3,500 mt compared to May 23 and a decrease of 1,000 mt compared to May 27. The inventory in the Shanghai decreased significantly due to fewer warehouse arrivals and continued on-demand purchase by downstream buyers. In Guangdong, the inventory decreased mainly due to ongoing maintenance at some smelters and direct deliveries to downstream buyers from some manufacturers, resulting in fewer warehouse arrivals. In Tianjin, the inventory increased significantly due to more shipments arrivals and high zinc prices which caused downstream buyers to restock as needed. Overall, the inventory in the original three regions decreased by 1,100 mt.