Shanghai-bonded zinc stocks fall below 100,000 mt

SHANGHAI, Jun 24 (SMM) – Stocks of refined zinc across Shanghai-bonded warehouses fell for a fourth straight week below 100,000 mt in the week ended June 21, losing 6,900 mt week on week to stand at 93,300 mt, showed SMM data.

Losses on imported zinc expanded last week as the ratio of SHFE zinc prices to LME zinc rapidly slipped after the delivery of the SHFE June contract at the start of the week.

A small amount of seaborne zinc flowed into domestic markets last week, while some cargoes left the bonded area for re-export.