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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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February 2020 | Base Metals


Zinc: Inflows compound virus worries


The recent build in exchange stocks is compounding a weak demand outlook created by uncertainty over the fallout from the coronavirus outbreak.

Stock inflows compound bearish sentiment
Zinc remains on the defensive this week, with the LME three-month price extending to a fresh 3½ year low of $2,117 per tonne on Monday February 10, after closing last week in negative territory for a third consecutive week.

Alongside ongoing uncertainties created by the coronavirus outbreak, LME stock flows have created additional pressure. A total of 22,825 tonnes of zinc has been delivered into LME warehouses over the past week, creating the illusion the supply bottleneck of refined metal has begun to ease. Some 25,325 tonnes has now been delivered...

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