Zinc’s price ticks up on bargain-hunting

摘要

Zinc’s price has lost 12% since breaching $3,500/t to trade at fresh multi-year highs in mid-February,as a combination of factors have given investors serious pause for thought. A sizeable increase inLME stocks in March started the slide just as trade tensions following the USA’s imposition of the 25%import tariff on steel products began to weigh on sentiment. China’s PMI for March coming in lowermonth-on-month did nothing to allay fears of cooling demand and zinc’s price on the SHFE slippedtoo. As rumours that China’s SRB had either sold, or was planning to sell, some of its stockpiled zinc,Chinese investors took flight and zinc’s price on the SHFE tumbled by over rmb1,000/t ($165/t) in justtwo days.