FastMarkets reported that zinc is up about 0.6 percent, noting that in the sell off that has taken place recently it is the only metal that has breached the low that it hit in April.
Zinc Market News Directory
MetalBulletin reported that London Metal Exchange warehouses received large deliveries of zinc, with a delivery of 92,000 tonnes in Antwerp bringing the port's total zinc inventories up to 192,875 tonnes.
Shanghai Metals Market reported that SHFE zinc prices moved higher after Chinese April trading data boosted the Shanghai Composite Index. SHFE zinc prices later fell, only to rebound on the back of rising LME zinc prices.
Shanghai Metals Market reported that of the market players it surveyed, 60 percent think that LME zinc prices are set to move in the range of US$1,860 to 1,900 per metric ton.
Shanghai Metals Market reported that zinc prices on the London Metal Exchange dropped sharply during China's May Day holiday, brought down by economic data indicating that demand from China, Europe and the US is lackluster.
Platts reported that the International Lead and Zinc Study Group (ILZSG) says global output of refined zinc will have a surplus of 273,000 mt this year due to a rise in production by 2.3%.
Reuters reported that zinc have failed to recover since falling to its lowest level in 5 months last week. It closed at $1,879 on Tuesday.
Bloomberg reported that Glencore had to end its agreement with Nyrstar, the world’s biggest zinc producer, due to competition concerns after buying miner Xtrata.
Mining Weekly reported that Canadian miner First Majestic Silver posted a 27% increase on its year-on-year zinc production to 1.67 million pounds.
Bloomberg reported that zinc declined further on the LME after industrial metals tumbled ahead of China economic reports.