SMM

According to an SMM survey, as of this Thursday (October 31), the total zinc ingot inventory in seven regions was 118,900 mt, down 7,000 mt from October 24 and down 3,500 mt from October 28, with domestic inventory recording a reduction. Shanghai inventory recorded a reduction, with warehouse arrivals not improving during the week, and downstream enterprises procuring on a just-needed basis, leading to an overall inventory decrease. Guangdong inventory recorded a reduction, with significantly fewer arrivals in Guangdong during the week, and downstream procurement and pick-up leading to an overall inventory decline. Tianjin inventory recorded an increase, with more arrivals in Tianjin as transportation resumed, and environmental protection warnings re-emerged mid-week, leading to a slight inventory increase. Overall, the original three regions' inventory decreased by 3,300 mt, and the seven regions' inventory decreased by 3,500 mt.