SHANGHAI, Oct 21 (SMM) - SMM data shows that the zinc ingot inventories across seven major markets in China totalled 100,000 mt as of October 21, up 5,600 mt from October 17 and up 11,300 mt on a weekly basis. The Shanghai market has seen arrivals of Qilin zinc and Baiyin zinc as well as the inflows of imported zinc ingots of SMC, AZ and KZ. At the same time, some smelters have sent SHFE deliveries to warehouses. As a result, the inventory in Shanghai gained 4,500 mt compared with this Monday. In the Guangdong market, the arrivals were stable but still low. Meanwhile, the outflows of warrants boosted active shipment among most goods holders, and the inventory in Guangdong dropped slightly. The arrivals in the Tianjin market this week were slow due to the pandemic, and the trades in the market declined amid sluggish downstream demand. Therefore, the inventory in Tianjin inched higher. Taken together, inventories in Shanghai, Guangdong and Tianjin added 5,100 mt, and inventories across seven major markets in China gained 5,600 mt.
