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SHFE zinc stocks plummeted by more than 20%! Less than 60,000 tons

Sep 14 (LTIT) – The London Metal Exchange (LME) released data on Friday, showing that LME zinc inventory remained stable at a high level to 219,700 tons. Prior to this, the stock of zinc on the exchange was as high as 226,400 tons, which was a recent two-year high.


The data released in the previous period showed that as of September 11, the inventory of SHFE zinc had fallen by more than 20% in a single week to 58,483 tons, a record low of nearly eight months. Since mid-March, zinc stocks on the exchange have gone from a high of nearly 170,000 tons, with a cumulative decline of more than 65%, supporting future prices.


Note: Generally speaking, the continuous decline of stocks in domestic and foreign exchanges will support futures, otherwise, it will be negative for futures prices.

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