Zinc - Market trends and analysis

摘要

The focus of LME stock activity last week was on zinc’s sister metal, lead. Similar to zinc, it has seen many months of consistent withdrawals this year, creating the perception of a tight market. However, last week lead stocks jumped by 50,000 tonnes or 27% on a single day, as a major market player (rightly or wrongly most fingers point to Glencore) decided to deliver against part of a large short position instead of roll it forward.