LME Zinc Cancelled Warrants Surged, Inventory Declined Slightly, with Significant Changes in Singapore and Kaohsiung

Published: Apr 2, 2026 16:23

Save

[LME Zinc Cancelled Warrants Increased Sharply] On April 2, 2026, LME zinc inventory decreased by 275 mt to 113,950 mt, down 0.24%, but cancelled warrants increased sharply by 26,925 mt, up 301.87%, with the overall cancellation ratio at 23.63%. Warehouse data showed that the increases were mainly concentrated in Singapore and Kaohsiung. Current overall zinc inventory remained at a relatively low level, and with LME Cash-3M maintaining a mild contango structure, attention should be paid to subsequent actual inventory changes and structural risks.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

51 mins ago

Ningbo Zinc: Traders Sell Casually, Spot Zinc Prices Basically Flat [SMM Midday Review]

[Ningbo Zinc: Traders Laid-Back on Shipments, Spot Zinc Quotes Basically Flat] In the Ningbo market, transaction prices of mainstream-brand 0# zinc were around 24,590-24,765 yuan/mt, Ningbo conventional brands were quoted at a discount of 40 yuan/mt against the 2608 contract and a premium of 30 yuan/mt against Shanghai spot zinc quotes, and mainstream Ningbo quotes were against the 2608 contract.

51 mins ago

59 mins ago

Tianjin Zinc: Futures Surge, Traders Dominate Trading [SMM Midday Commentary]

[Tianjin Zinc: Futures Rally Drives Trader-Led Trading] The mainstream transaction price for #0 zinc ingot in the Tianjin market was 24,510-24,720 yuan/mt, Zijin brand traded at 24,590-24,800 yuan/mt, #1 zinc ingot traded around 24,500-24,690 yuan/mt, Zijin brand was quoted at a discount of 0-30 yuan/mt against the 2608 contract, Huxin brand was quoted at 25,760 yuan/mt, #0 zinc ingot was quoted at a discount of 80-110 yuan/mt against the 2608 contract, and the Tianjin market was quoted at a discount of around 30 yuan/mt against the Shanghai market.

59 mins ago

3 hours ago

US Set to Approve South32’s US$2 Billion Hermosa Zinc-Manganese Project in Arizona

The US Forest Service is expected to approve South32’s Hermosa Critical Minerals Project in Arizona. The project, which has received fast-track permitting status from the US government, is set to become the first mining project approved under the Agriculture Department’s expedited review process. Located near the US-Mexico border in southern Arizona, the Hermosa project represents an investment of approximately US$2 billion and hosts one of the world’s largest undeveloped zinc deposits, along with manganese and other critical minerals. US officials said the project will help strengthen domestic critical mineral supply chains and reduce reliance on foreign sources of processed metals. South32 expects Hermosa to reach full production by 2029, providing a significant new source of zinc supply for the US market.

3 hours ago