Downstream consumption is in the doldrums, and domestic inventory continues to increase [SMM Weekly Review of Spot Zinc Ingot Inventory]

SMM News on July 18:

       According to SMM's communication and understanding, as of Thursday this week (July 17), the total zinc ingot inventory across seven regions tracked by SMM was 93,500 mt, an increase of 3,300 mt from July 10 and an increase of 500 mt from July 14, indicating a rise in domestic inventory. During the week, arrivals increased in Guangdong and Tianjin, coupled with a decrease in downstream demand, leading to a more significant increase in inventory. In Shanghai, there were fewer domestic arrivals during the week, mainly relying on the consumption of existing inventory, resulting in a slight decrease in inventory. Overall, inventory in the original three regions increased by 500 mt, while inventory across seven regions increased by 400 mt.