SMM Seven-Region Social Inventory of Zinc Ingots Decreased by 7,000 mt [SMM Data]

SMM Data: As of Monday, April 21, the total zinc ingot inventory in seven regions monitored by SMM was 93,000 mt, a decrease of 12,600 mt from April 14 and 7,000 mt from April 17, with domestic inventory recording a decline. The mid-week decline in zinc prices last week led to increased restocking by downstream users, resulting in a reduction in social inventory. In Shanghai and Guangdong, continuous cargo pick-up by downstream users led to a significant decrease in overall production. In Tianjin, inventory changes were relatively small due to limited market supply and higher premiums quoted by traders. Overall, inventory in the original three regions decreased by 6,400 mt, while inventory in the seven regions decreased by 7,000 mt.