SHANGHAI, Jul 22 (SMM) - SMM zinc ingot social inventories across seven major markets in China stood at 148,500 mt as of July 22, down 3,000 mt from July 15 and 4,800 mt from July 18. The inventory in Shanghai increased slightly as purchase slowed down amid increasing zinc prices and fewer transactions were made due to high spot premiums. The inventory in Guangdong dropped slightly with reduced arrivals in the market and relatively stable rigid demand. In Tianjin, the arrivals in the market remained low and the zinc backwardation expanded. Therefore, the inventory declined slightly as the spot premiums remained high and the downstream producers restocked on dips. Overall, inventories in Shanghai, Guangdong and Tianjin fell 3,000 mt from July 18, and inventories across seven major markets in China decreased 4,800 mt.
