SHANGHAI, Jul. 14 (SMM) - LME zinc prices plunged on July 14 on top of news that canceled warrants had decreased sharply, SMM reported.
Zinc Trading Improves across China Major Markets as Zinc Price Falls, SMM Reports
Canceled warrants on LME zinc decreased nearly 32,000 to 168,000 lots as of July 14. LME zinc tumbled from $2,790 per tonne to $2,770 per tonne after this news.
Zijin Brand Zinc Premiums Expand Sharply as Supply Tightens in Tianjin, SMM Reports
This may be a reflection of slower purchases, and will weigh on zinc prices in the near term, SMM said. But canceled warrants may return to growth, SMM added.
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