SMM News on May 30:
According to SMM's communication and understanding, as of Thursday (May 29), the total zinc ingot inventory across seven locations tracked by SMM was 75,000 mt, a decrease of 5,400 mt from May 22 and a decrease of 3,800 mt from May 26, indicating a decline in domestic inventory. During the week, there were fewer arrivals in Shanghai and Tianjin, coupled with downstream pre-holiday inventory restocking, which drove the inventory to continuously decline. In Guangdong, spot premiums rose continuously during the week, and downstream enterprises made just-in-time procurement due to fear of high prices, leading to an increase in inventory. Overall, inventory across the original three locations decreased by 3,700 mt, while inventory across the seven locations decreased by 3,800 mt.
