Total zinc ingot inventory in China's seven major regions declined

According to an SMM survey, as of Thursday (August 29), the total zinc ingot inventory in SMM's seven regions was 127,100 mt, down 3,900 mt from August 22 and down 1,600 mt from August 26, with domestic inventory decreasing. Shanghai's inventory significantly decreased due to continued smelter production cuts and fewer warehouse arrivals during the week, leading to a continued decline in warehouse inventory. Guangdong and Tianjin's inventories increased, with no significant improvement in warehouse arrivals in both regions during the week. However, downstream cautious restocking at high zinc prices led to a slight increase in inventory under weak supply and demand. Additionally, Zhejiang's social inventory increased due to the arrival of imported zinc ingots. Overall, the original three regions' inventory decreased by 2,400 mt, and the seven regions' inventory decreased by 1,600 mt.