Zinc outshines SHFE zinc stocks fell for a second week, by 4,615 tonnes to 29,204 tonnes, an 11-year low. Falling availability continues to keep premiums rising. The premium for zinc, cif Shanghai, soared to $260-280 per tonne in the week...
Having been the laggard for much of Q3, zinc finished September firmer. Signs of increasing tightness, coupled with technical-related buying triggered a strong rally on Friday, September 28, with the three-month price up as much as 5.3% at one point, before closing the week at $2,598.50 per tonne, up 3.3%.
Chinese premiums surge on falling availability
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