SMM

According to an SMM survey, as of Thursday (October 17), total zinc ingot inventory in SMM's seven regions was 121,800 mt, up 8,700 mt from October 10 and up 2,700 mt from October 14, with domestic inventory increasing. In Shanghai, inventory increased mainly due to higher arrivals at warehouses and just-in-time procurement by downstream buyers. In Guangdong, inventory increased due to higher arrivals at warehouses and weak downstream buying sentiment due to high zinc prices, leading to continued inventory buildup. In Tianjin, inventory decreased mainly due to higher shipments from factories and no improvement in warehouse arrivals, leading to continued inventory decline. Overall, inventory in the three regions increased by 3,200 mt, and total inventory in the seven regions increased by 2,700 mt.