SMM

According to an SMM survey, as of Thursday (September 19), total zinc ingot inventory in SMM's seven surveyed regions was 114,500 mt, down 3,100 mt from September 9, and up 1,100 mt from September 12. Shanghai region inventory increased due to arrivals of imported zinc ingots and downstream need-based restocking after the holiday, leading to a slight overall increase. Guangdong region inventory increased significantly due to higher warehouse arrivals and weak downstream demand. Tianjin region inventory continued to decrease due to smelter maintenance and reduced arrivals, combined with downstream need-based restocking after the holiday. Overall, the original three-region inventory increased by 1,500 mt, and the seven-region inventory increased by 1,100 mt.