SMM data shows that social inventories of zinc ingots across seven major markets in China totalled 99,300 mt as of Friday August 18, down 17,900 mt from Friday August 11 and down 17,200 mt from Monday August 14.
Zinc inventories in Shanghai fell sharply during the week. Imported zinc ingot decreased and downstream stockpiling increased amid falling zinc prices. In Guangdong, arriving shipments were normal, and downstream stockpiling grew, lowering inventories.
In Tianjin, shipments arrivals from smelters were extremely scarce. That, combined with normal consumption, reduced the inventory significantly. Inventory in Shanghai, Guangdong and Tianjin fell by a combined 15,800 mt.
