SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 93,300 mt as of Friday September 8, up 1,700 mt from Friday September 1 but down 2,300 mt from Monday September 4.
The inventory in Shanghai dropped slightly due to the lack of arrivals of domestic brands such as Qinxin and Qilin zinc. In Tianjin, arrivals of brands such as Hongye, Bailing and Xinzi were low due to maintenance at the producers. Arriving shipments in Zhejiang declined as smelters increased shipments to downstream buyers, reducing inventories noticeably. Inventory in Shanghai, Guangdong and Tianjin fell by a combined 900 mt.
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