SHANGHAI, Jan 19 (SMM) – Inventories of zinc ingot across Shanghai-bonded areas fell 2,300 mt in the week ended January 17 to 71,400 mt, after a decline of 1,500 mt in the previous week.
Export shipments accounted for the inventory decline for the week.
The stocks have declined for two consecutive weeks, by a combined volume of 3,800 mt.
![[SMM Analysis] LME Stocks Climb While Backwardation Widens — What's Behind Zinc's Apparent Paradox?](https://imgqn.smm.cn/usercenter/qdibi20251217171755.jpg)

![LME Strengthens While SHFE Zinc Continues to Rise [SMM Zinc Futures Briefing]](https://imgqn.smm.cn/usercenter/eyxqF20251217171756.jpg)
