SHFE Zinc Stocks Up over 10% to a Seven-and-a-half-month High

Data released by the London Metal Exchange (LME) showed that zinc stocks in LME warehouses fell for three straight days after reaching a one-month high of 26,250 mt on February 10. Last Thursday, LME zinc inventory hit a new high of 29,850 mt over a month before pulling back again. The latest data show that the LME zinc inventory stands at 29,475 mt.

According to the data released by the Shanghai Futures Exchange (SHFE), zinc stocks in SHFE warehouses have recorded a seven-week winning steak. The weekly stocks as of February 17 gained by 14.9% to 121,413 mt, a new high over the past seven-and-a-half months.