Shanghai-bonded zinc stocks fall for 6 weeks

SHANGHAI, Jul 8 (SMM) – Stocks of refined zinc across Shanghai-bonded warehouses fell for a sixth straight week, in the week ended Friday July 5, by some 400 mt as a closed import arbitrage window kept trades light.

SMM data showed that stocks lost 400 mt from Friday June 28 to stand at 90,700 mt as of Friday July 5, after a drop of 2,200 mt in the prior week.

Import profits remained in negative territory last week, even as the backwardation structure on LME zinc collapsed.