On April 9, LME market zinc inventories stood at 112,050 tonnes—a decrease of 275 tonnes. Of this total, 87,000 tonnes were registered warrants, while 25,050 tonnes were cancelled warrants, representing a share of 22.36%.

Analysis and Commentary

LME zinc inventories declined by 275 tonnes to 112,050 tonnes, while the proportion of cancelled warrants reached 22.36%; this indicates an acceleration in inventory depletion and suggests that supply conditions may be tightening. Such trends typically reflect robust demand or improved logistics, thereby providing support to spot zinc prices; consequently, spot prices are projected to rise in the short term. When viewed in conjunction with broader market fundamentals, both the decline in inventories and the elevated level of cancelled warrants constitute bullish factors for the market.

As an integrated internet platform providing benchmark prices, on April 9, on April 9, the SunSirs benchmark price for zinc stood at 23,812.00 RMB/ton, representing an increase of 1.62% compared to the beginning of the month (23,432.00 RMB/ton).

Application of SunSirs Benchmark Pricing：

Traders can price spot and contract transactions based on the pricing principle of agreed markup and pricing formula (Transaction price=SunSirs price + Markup).

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