Downstream consumption sentiment shows strong fear of high prices, and domestic inventory increases [SMM Weekly Review of Spot Zinc Ingot Inventory]

SMM News on July 25:

       According to SMM's communication and understanding, as of Thursday this week (July 24), the total zinc ingot inventory across seven locations tracked by SMM was 98,300 mt, an increase of 4,700 mt from July 17 and an increase of 5,600 mt from July 21, indicating a rise in domestic inventory. During the week, arrivals in Shanghai, Guangdong, and Tianjin were relatively normal. However, zinc prices surged significantly at the beginning of the week, dampening downstream purchasing enthusiasm, leading to varying degrees of inventory buildup in these three locations. Among them, inventory in the Shanghai region increased significantly. Overall, inventory in the original three locations increased by 4,600 mt, and inventory across seven locations increased by 5,600 mt.