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Zinc Ingot Prices Decline Sharply in Late July as Inventories Mount and Demand Lags

Zinc Ingot Prices Decline Sharply in Late July as Inventories Mount and Demand Lags

Phoebe Cary 04-Aug-2025

China's zinc ingot market witnessed a steady decline in prices throughout the month of July 2025, as China remained oversupplied with zinc ingot, and end-user demand continued to be weak from the construction and automotive segments of the economy. While prices recovered slightly in mid-July due to a production loss, prices ultimately headed lower as inventories continued to build. Overall, the market remains cautious, and prices going forward will be contingent on any future production cuts from smelters to address the ongoing oversupply.

In the last week of July xxxx, prices for zinc ingot in China trended sharply down, from weak end-user demand during the summer lull but low usage amid current oversupplies. Prior to the xx drop in the last week of July xxxx, there were minor declines in mid-July xxxx and the week ending July xx. The overall market exhibited these trends, aided by declining prices from the LME in London.

However, the market witnessed a temporary bullish surge in the week ending July xx, when Zinc Ingot (FOB Tianjin) values climbed significantly from the previous week&#xx;s level. This uptrend, which extended a xx-week bullish streak for the moving average, was primarily driven by a production loss of xxx tonnes at Inner Mongolia XingAn Copper and Zinc due to power rationing between July xx鈥搙x. This was coupled with a fall in zinc...

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