Increased arrivals + weaker demand led to an increase in social inventory this week [SMM Weekly Review of Spot Zinc Ingot Inventory]

SMM News on July 4:

       According to SMM's communication and understanding, as of Thursday this week (July 3), the total inventory of zinc ingots in seven regions tracked by SMM was 82,400 mt, an increase of 2,900 mt from June 26 and an increase of 1,800 mt from June 30, indicating a rise in domestic inventory. Among them, the arrival of goods in Guangdong and Tianjin regions increased during the week, while downstream consumption was relatively weak. As a result, the outflows from warehouses in these two regions slowed down, leading to a more significant increase in inventory. In contrast, the inventory in Shanghai region remained basically flat compared to Monday. Overall, the inventory in the original three regions increased by 2,400 mt, and the inventory in seven regions increased by 1,800 mt.

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