LME Zinc Plunges 2.5% from Four-Year High, Driven by Chinese Export Expectations and Copper Pullback
[SMM Flash] Sep 10 — LME zinc plunged from its highs. As of 19:00 Beijing time, LME zinc fell to USD 3,960/t, down around 2.5%. The price reversed sharply just one day after hitting a more-than-four-year high of USD 4,065/t yesterday. The decline was mainly driven by mounting expectations of Chinese export deliveries onto the LME, compounded by a sharp pullback in LME copper amid shifting tariff expectations, which weighed on risk appetite across the base metals complex. Keep watching the LME time spreads (contango/back) and the pace of zinc warrant deliveries going forward.