On January 30, 2026, zinc inventory on the Shanghai Futures Exchange was 28,468 tons, an increase of 227 tons compared to the previous trading day. Among them, Shanghai inventory was 747 tons, an increase of 747 tons; Guangdong inventory was 3,198 tons, unchanged; Jiangsu inventory was 298 tons, a decrease of 221 tons; Zhejiang inventory was 0 tons, unchanged; Tianjin inventory was 24,225 tons, a decrease of 299 tons.

PriceSeek Analysis on Zinc, Bull-Bear Score: -1
Zinc inventory on the Shanghai Futures Exchange increased by 227 tons compared to the previous trading day, with total inventory reaching 28,468 tons. Among them, Shanghai inventory increased by 747 tons, indicating short-term oversupply. Although Jiangsu and Tianjin inventories decreased, the overall increase suggests ample market supply, which may exert downward pressure on spot prices. Inventory growth typically reflects weak demand or increased supply, hence the score of -1 (generally bearish). It is advisable to monitor subsequent inventory changes and demand-side signals.