Normal arrivals coupled with fewer cargo pick-ups led to a continued increase in domestic inventory this week [SMM Weekly Review of Spot Zinc Ingot Inventory]

SMM August 15 News:

       According to SMM's communication and understanding, as of Thursday this week (August 14), the total zinc ingot inventory across seven locations tracked by SMM was 129,200 mt, an increase of 16,000 mt from August 7 and an increase of 10,000 mt from August 11, indicating a rise in domestic inventory. This week, inventories in Shanghai, Guangdong, and Tianjin all saw notable increases. Arrivals in these three locations were relatively normal during the week, but downstream cargo pick-up was low due to the off-season consumption. Meanwhile, in Tianjin, influenced by the upcoming military parade, end-users' enthusiasm for purchasing and picking up goods was low. Overall, the original three locations' inventory increased by 9,900 mt, and the seven locations' inventory increased by 10,000 mt.