Zinc Ingot Social Inventory Gains 4,700 mt from this Monday

SHANGHAI, Feb 10 (SMM) - SMM data shows that the zinc ingot social inventories across seven major markets in China totalled 185,500 mt as of this Friday (February 10), up 11,400 mt from a week ago and up 4,700 mt from this Monday (January 6).

The inventory in Shanghai recorded a slight increase with stable arrivals and muted transactions. In Tianjin, the arrivals were still tight while the outbound cargoes were plentiful amid high operating rates of downstream enterprises. Therefore, the inventory in Tianjin fell. In Guangdong, the market arrivals were flat, while the downstream buyers primarily purchased on dips as needed. The limited trades led to a slight increase in the inventory in Guangdong.

Taken together, inventories in Shanghai, Guangdong and Tianjin rose 2,100 mt, and inventories across seven major markets in China gained 4,700 mt.