SMM

According to the SMM survey, as of July 25, the total zinc ingot inventory in seven regions surveyed by SMM was 169,100 mt, a decrease of 22,800 mt compared to July 18 and a decrease of 8,600 mt compared to July 22, with domestic inventory continuing to decrease. Inventories in Shanghai, Guangdong, and Tianjin recorded further decreases, as warehouse arrivals in these three regions showed no improvement during the week, and the continuous decline in market prices stimulated downstream producers to purchase and restock, leading to further reductions in inventories in these three regions. Overall, inventories in the original three regions decreased by 8,000 mt, and inventories in the seven regions decreased by 8,600 mt.