SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 122,500 mt as of Friday July 28, up 4,200 mt from Friday July 21 but down 1,700 mt from Monday July 24. Arriving shipments in Shanghai increased during the week, while shipments from Shanghai decreased, growing total inventory.
In Guangdong, the arrivals of zinc ingots during the week were low, and shipments were sluggish, keeping total inventories largely unchanged. In Tianjin, there were few shipments arrivals, and the inventory dropped significantly. The total inventory in Shanghai, Guangdong and Tianjin fell 500 mt.
