Fundamentals remain unchanged, with a slight inventory buildup continuing domestically [Weekly Review of SMM Zinc Ingot Spot Inventory]

SMM News on July 11:

       According to SMM's communication and understanding, as of Thursday this week (July 10), the total inventory of zinc ingots in seven regions tracked by SMM was 90,300 mt, an increase of 7,200 mt from July 3 and an increase of 1,200 mt from July 7, indicating a rise in domestic inventory. Among them, arrivals in Shanghai and Guangdong were normal during the week, and downstream procurement was relatively cautious, leading to a slight increase in inventory. However, arrivals in Tianjin were relatively low, coupled with an increase in downstream procurement at the beginning of the week, resulting in a slight decrease in inventory. Overall, the inventory in the original three regions increased by 500 mt, and the inventory in seven regions increased by 1,200 mt.

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