SMM7 March 31:
According to SMM, as of Friday, SMM's total zinc ingot inventory was 195200 tons, down 3700 tons from last Friday and 2400 tons from Monday.
Inventory fell in July, mainly in Shanghai and Tianjin, with an increase in inventory in Guangdong and a slight increase in Jiangsu and Zhejiang. There is a slight increase in domestic arrival in Shanghai, but there is still little inflow of imported zinc, and downstream rigid demand procurement supports demand, and inventory continues to decline, but the decline slows down; high zinc prices in Guangdong restrain downstream demand, coupled with a decline in the proportion of smelter direct delivery terminals, and market arrival increases; Tianjin mainly digests inventory this week due to the impact of railway transport problems. Overall, the original inventory in Shanghai, Guangdong and Tianjin fell by 3600 tons, while the inventory in seven places across the country dropped by 3700 tons.