SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 125,900 mt as of Monday August 7, down 1,000 mt from Friday August 4, but up 3,400 mt from Monday July 31. Inventories in Shanghai changed little over the weekend. Increased shipments of imported zinc drove inventories to drop slightly.
In Guangdong, inventories grew significantly amid continued shipments arrivals of domestic brands such as Qilin and Mengzi as well as sluggish downstream delivery-taking. Inventories in Tianjin fell further amid low arriving shipments. Inventories in Zhejiang fell by 2,800 mt on the back of limited arriving shipments and increased downstream delivery-taking. Inventories in Shanghai, Guangdong and Tianjin rose 1,100 mt.
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