Zinc - Market trends and analysis

摘要

LME stocks declined last week, by 5,050 tonnes or 0.9% to 541,950 tonne. Although that made it the biggest down-week of the year, and this week has started in the same way with a 650-tonne net withdrawal yesterday, total stocks are still at the same level they were a month ago and cancelled warrants do not suggest that there are many further withdrawals in the pipeline. Indeed, warrant cancellation activity is still the second-lowest of all the base metals.