Zinc Prices Sink After LME Warehouse Delivery

MetalBulletin reported that London Metal Exchange (LME) zinc prices fell as much as 1.9 percent on an intraday basis after 75,000 tonnes of the metal were delivered to New Orleans-based exchange warehouses overnight.

As quoted in the market news:

After opening at $1,926 per tonne, three-month zinc prices traded broadly sideways through the overnight session, but rapidly dropped to a low of $1,892 per tonne after the LME’s daily stock reports were published at 09:00 BST. Zinc stocks in LME-approved warehouses reached 1,060,475 tonnes on Wednesday after the New Orleans delivery increased stocks by a net 73,575 tonnes, offsetting a steady run of small daily withdrawals seen since March.

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