SHANGHAI, Oct 10 (SMM) - SMM data shows that zinc ingot inventories across seven major markets in China totalled 84,700 mt as of October 10, up 13,600 mt from September 30 and up 7,700 mt from last Saturday (October 8). The inventory in Shanghai only rose by 1,300 mt, which was less than expected. The statistics show that the arrivals in Shanghai during the holiday were relatively low, and there was no signs of zinc ingot inflow of Baiyin and Qinlin brands, which had been expected to arrive. At the same time, the downstream enterprises continued to pick up the goods one after another during the holiday. The inventory in Guangdong increased slightly as some of the zinc ingots were transferred to Shanghai while the local arrivals were low during the holiday. The inventory in Tianjin accumulated significantly as the smelters received stable cargoes during the holiday. However, the recent pandemic outbreak in Inner Mongolia and Xinjiang has hindered the transportation of local smelters, who still maintain normal production though. Other markets all saw slight increases in inventories, but the overall increase was little. On the whole, inventories in Shanghai, Guangdong and Tianjin rose 5,000 mt, and inventories across seven major markets in China gained 7,700 mt.
