Downstream buyers restocked at lower prices during the week, leading to a decrease in zinc inventory this week [SMM Weekly Review of Spot Zinc Ingot Inventory]

SMM June 13 News:

       According to SMM's communication and understanding, as of Thursday (June 12), the total zinc ingot inventory across seven locations tracked by SMM was 77,100 mt, a decrease of 2,200 mt from June 5 and a decrease of 4,600 mt from June 9, indicating a decline in domestic inventory. During the week, zinc prices continued to fall below 22,000 yuan/mt. Driven by the low prices, downstream enterprises engaged in buying the dip, leading to a significant decrease in inventory in multiple locations. Among them, the decline was more pronounced in Shanghai and Tianjin. In Guangdong, due to the slower pace of cargo pick-up by downstream enterprises and relatively normal arrivals during the week, inventory changes were relatively small. Overall, the original three-location inventory decreased by 0.22 mt, while the seven-location inventory decreased by 4,600 mt.

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