As of May 31, the inventory in Lianyungang was 39,000 mt, down 9,000 mt from the end of April.
In May, the inventory in Lianyungang first decreased and then increased, hitting a new low within the month. The import window for zinc concentrate remained closed in May, and most of the arrivals were zinc ores purchased by smelters earlier. In May, the TCs for domestic and imported zinc concentrate continued to decline, and the tight supply of ore did not ease. After the arrival of pre-ordered goods, smelters quickly picked up the goods, keeping the port inventory at a low level.
In early June, the import window for zinc ore briefly opened, and smelters had locked in some cargoes previously. As such, arriving shipments increased. However, the raw material inventory days of smelters continue to decline, and the tight supply of raw materials may not significantly improve the port inventory.
