SMM

SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 87,900 mt as of Friday December 1, down 5,800 mt from November 24 and down 1,200 mt from November 27. Inventories dropped slightly during the week, mainly due to normal arrivals in the market and increased stockpiling by downstream companies on dips. Stocks in Tianjin increased slightly, mainly due to the opening of Quansheng's new warehouse, which brought a certain increase. Inventory in Shanghai, Guangdong and Tianjin fell by a combined 700 mt.