Deliverable zinc stocks at Shanghai Futures Exchange-approved warehouses soared by more than 12% over the past week, increasing by 4,232 tonnes and taking total inventory count to 34,168 tonnes, while only 5% of stocks remain available on-warrant.
Out of the 22 SHFE-approved storage facilities, warehouse company Nanchu in Guangdong province gained 4,918 tonnes week on week, taking total deliverable stocks to 9,412 tonnes. On Friday August 31 and Monday September 3, buyers could make more than $200 per tonne of profits by locking in an arbitrage and importing zinc...