TSXV:SMR.H - Post Discussion
Post by
Target10 on Oct 28, 2019 3:44pm
Zinc Prices Rising as Inventories Decline
Zinc prices have starting increasing in the last 4 days
BEIJING, Oct 28 (Reuters) - Zinc prices rose on the London Metal Exchange in early Asian trade on Monday, setting the metal used to galvanise steel on course for a fourth straight day of gains as investors worried about inventories at a 12-year low. The global metals industry is gathering in London this week for the annual LME Week event. FUNDAMENTALS * ZINC: Three-month zinc on the London Metal Exchange rose as much as 0.4% to $2,519 a tonne and stood at $2,518. The most traded zinc contract on the Shanghai Futures Exchange rose as much as 2% to a two-week high of 19,165 yuan ($2,712.78) a tonne. * ZINC STOCKS: Zinc inventories in LME-registered warehouses MZNSTX-TOTAL fell to 58,525 tonnes, their lowest since October 2007 after sliding by half this year.
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