Zinc settled down in Shanghai as heavy selling in whole metals pack activated bearish tone. The metal used in galvanization of steel declined by 175 yuan per tonne and ended at 15395 yuan per tonne in Shanghai futures exchange. On LME, Zinc forwards were down, right from early Asian trades and tested a intraday low of $ 2009 per tonne. The metal was trading at $ 2012 per tonne, down $ 6 from last week.
Inventories of Zinc were down by 1750 tonnes to 1198300 tonnes but that has hardly made any difference to the metal.
Source by Commodity Insights
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