Fundamentals, page-10

With around 330k refined between SHFE & social inventories & 75k on the LME there is over 400k of observable stockpiles. Very likely to have further inventories in non-visible stockpiles held by traders.

For there to be drawdowns instead of further increases in stocks end users of refined zinc will have to return to work, but that’s just not happening:



There is no chance of the world running out of refined zinc anytime soon.