LME Zinc Inventories Fall to 9-Year Low, LME Zinc Surges to 2-Wk High on Anticipation of Pickup in Steel Plants Demand

Published: Jun 20, 2017 15:14

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LME zinc inventories fell to a 9-year low of 311,925 tonnes on Monday as markets expect demand from steel plants to increase, wenhua.com reported.

SHANGHAI, Jun. 20 (SMM) - LME zinc inventories fell to a 9-year low of 311,925 tonnes on Monday, wenhua.com reported.

Zinc Inventories Grow in China Major Markets, SMM Reports

Meanwhile, SHFE zinc inventories remained at an 8-year low as of June 16, despite a rise to 71,758 tonnes.

When combined with market anticipation of improvement in demand from steel plants, LME zinc jumped to a two-week high on Monday. LME zinc closed at $2,556 per tonne, an increase of 1.2%, and briefly touched $2,568 per tonne, a level last seen on June 2.

Zinc Spot Premiums Shrink across China Major Markets, Domestic Brands Still Insufficient, SMM Reports

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