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10-year low zinc stocks to underpin LME, SHFE zinc prices
Zinc stocks across LME warehouses extended declines on Monday Dec 3, to the lowest in over 10 years
SHANGHAI, Dec 4 (SMM) – Zinc inventories across LME warehouses extended their decline on Monday December 3, to the lowest in over ten years, to 112,575 mt, showed LME stocks data.
SHFE data showed that zinc stocks across LME warehouses also dipped to a 10-year low of 26,779 mt as of Friday November 30, down 24% on the week.
Such declines in inventories are set to underpin rebounds in both LME zinc and SHFE zinc contracts.
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