Downstream procurement demand slows down, social inventory of zinc increases [SMM Weekly Review of Spot Zinc Ingot Inventory]

SMM June 6 News:

       According to SMM's communication and understanding, as of Thursday (June 5) this week, the total zinc ingot inventory across seven locations tracked by SMM was 79,300 mt, an increase of 4,300 mt from May 29 and an increase of 1,900 mt from June 3, indicating a rise in domestic inventory. During the week, arrivals in Shanghai and Tianjin increased somewhat. However, as the market gradually entered the seasonal off-season for consumption, the purchasing demand of downstream enterprises weakened, leading to an increase in inventory in both regions. In Guangdong, arrivals during the week were relatively normal, but continuous cargo pick-up by downstream enterprises drove a slight decline in inventory. Overall, inventory across the original three locations increased by 1,900 mt, and inventory across the seven locations also increased by 1,900 mt.

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