Pre-holiday inventory replenishment coupled with fewer arrivals led to a continued decline in social inventory [SMM Weekly Review of Spot Zinc Ingot Inventory]

SMM News on April 30:

       According to SMM's communication and understanding, as of Wednesday (April 30), the total zinc ingot inventory across seven locations tracked by SMM was 77,000 mt, a decrease of 8,800 mt from April 24 and a decrease of 8,900 mt from April 28, indicating a decline in domestic inventory. Affected by the Labour Day holiday, downstream procurement increased in Shanghai and Tianjin regions before the holiday, while cargo arrivals in Shanghai decreased. Consequently, inventory in these two regions dropped significantly. In Guangdong, due to substantial procurement at lower prices by downstream users earlier, the current focus for downstream users is mainly on cargo pick-up, resulting in a slight decline in inventory. Overall, inventory in the original three locations decreased by 8,100 mt, while inventory across seven locations decreased by 8,900 mt.

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