The latest data from the ILZSG suggest zinc's fundamentals are moving in the right direction, after the market reportedly recorded a deficit of 84,000 tonnes in the final quarter of 2015. However, the positive price ramifications of this announcement were overshadowed at the start of last week by a huge third-Wednesday-related 41,750-tonne delivery into LME warehouses. Stronger sentiment finally emerged late in the week, with zinc shrugging off a further inflow of 8,725 tonnes on Friday, to see prices record their strongest close since October 19.
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