Zinc stocks on the Shanghai Futures Exchange surged by almost 40% week on week on Friday January 4, while stocks for other base metals, bar copper and nickel, posted modest weekly increases.
Deliverable zinc stocks at SHFE-approved warehouses rose by 7,795 tonnes or 38.8% since December 28 to 27,898 tonnes. This week R&S Logistics in Shanghai saw the most stock entering its sheds - 2,960 tonnes of the metal was delivered into the warehouse. Zinc stocks rose sharply amid a quiet spot market this week, with most market participants away for the New Year holiday from December...