[Downstream Operations Gradually Recover, Inventory Buildup Slows]: According to SMM communication, as of this Thursday (February 27), the total zinc ingot inventory across seven SMM regions was 145,300 mt, an increase of 8,200 mt compared to February 20 and a decrease of 300 mt compared to February 24, with domestic inventory recording a reduction...
SMM February 28 News: According to SMM communication, as of this Thursday (February 27), the total zinc ingot inventory across SMM's seven regions stood at 145,300 mt, an increase of 8,200 mt compared to February 20 and a decrease of 300 mt compared to February 24, with domestic inventory showing a decline. Shanghai's inventory recorded an increase, mainly due to continuous zinc ingot arrivals in the Shanghai market during the week and just-in-time procurement by downstream buyers, leading to a significant overall inventory growth. Guangdong's inventory recorded a decrease, primarily due to reduced zinc ingot arrivals in the region during the week, coupled with downstream buying the dip, resulting in a decline in zinc ingot inventory. Tianjin's inventory also recorded a decrease, as the futures market saw a noticeable drop during the week, downstream operations continued to recover, and zinc ingot inventory slightly declined under dip pricing and cargo pick-up. Overall, the original three regions' inventory decreased by 100 mt, while the seven regions' inventory decreased by 300 mt. 》Subscribe to view SMM historical spot metal prices
