【SMM Data】SMM News on March 28th: According to SMM research, as of Thu

Published: Mar 28, 2024 13:40

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【SMM Data】SMM News on March 28th: According to SMM research, as of Thursday (March 28th), the total inventory of zinc ingots in seven SMM locations was 199,300 tons, an increase of 11,000 tons from March 21st and a decrease of 43,000 tons from March 25th, with domestic inventory decreasing. Shanghai inventory decreased during the week, and imported zinc ingots continued to flow in this week, but due to the low zinc price, downstream customers bought more on dips, leading to an overall decrease in inventory. Inventory in Guangdong decreased, with a lot of arrivals and pickups during the week, as the downtrend in the market ignited strong buying sentiment downstream, resulting in a significant decrease in overall inventory. Inventory in Tianjin decreased slightly, with normal arrivals at warehouses over the weekend, and the lower zinc price led to delayed pickups on dips downstream, resulting in a slight decrease in overall inventory. Overall, the inventory in the three original locations decreased by 240,000 tons, and the inventory in seven locations decreased by 430,000 tons.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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