SMM

According to the SMM survey, as of Thursday (May 23), the SMM total zinc ingot inventory in seven regions of China was 212,900 mt, a decrease of 2,100 mt compared to May 16 and a decrease of 2,900 mt compared to May 20. The inventory in the Shanghai decreased significantly driven by normal shipments arrivals of domestic cargoes, few arrivals of imported cargoes during the week and downstream purchases. The inventory in the Guangdong area increased, with normal arrivals during the week; high zinc prices impacted downstream purchasing sentiment, resulting in fewer pickups. The inventory in Tianjin also increased due to a slight increase in warehouse arrivals during the week and zinc price gains affecting downstream purchasing. Overall, the original three regions' inventory decreased by 2,000 mt.