Downstream Takes Holiday Before Festival, Zinc Ingot Starts Inventory Buildup [SMM Weekly Review on Zinc Ingot Social Inventory]

SMM, January 24: According to SMM communication, as of Thursday, January 23, the total zinc ingot inventory across seven regions monitored by SMM reached 62,600 mt, an increase of 3,800 mt compared to January 16 and an increase of 0.32 mt compared to January 20, with domestic inventory recording a rise. Inventories in Shanghai, Guangdong, and Tianjin all increased as zinc ingots were delivered to these regions during the week. However, downstream enterprises had mostly completed their holiday shutdowns, leading to a continued weakening in zinc ingot purchase demand and an increase in inventory across the three regions. Overall, the original three regions' inventory increased by 2,500 mt, while the seven regions' inventory increased by 0.32 mt.

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