Base metal stocks on the Shanghai Futures Exchange were broadly lower week on week on Friday November 30, with zinc stocks hitting a fresh nine-year low.
Deliverable zinc stocks at SHFE-approved warehouses dropped 8,673 tonnes or 24.5% from November 23 to 26,779 tonnes. This week, R&S Logistics in Shanghai saw the most stock leaving its sheds - 4,100 tonnes of the metal was delivered out of the warehouse. Anticipation of tightening availability continued to push zinc stocks down with market participants taking delivery of material amid a...