https://www.reuters.com/article/global-metals/metals-london-zinc-...

https://www.reuters.com/article/glo...an-8-month-high-stocks-in-focus-idUSL3N210147

London zinc prices hit their
highest in more than eight months on Wednesday, as investors
worried about ultra-tight stocks of the metal used to galvanise
steel.
Zinc stocks in London Metal Exchange-registered warehouses
currently stand at 59,200 tonnes, their lowest since October
2007 MZNSTX-TOTAL.
Prices "have moved higher on the potential for supply
disruptions and very low inventory levels," Standard Chartered
said in a note.
Floods in Australia's Queensland state last month have
disrupted rail delivery of zinc exports to the northern port of
Townsville, affecting miners, including Glencore, MMG
Ltd and South 32.
Townsville port ships about 40 percent of Australia's zinc
production, equal to about 700,000 tonnes a year or 5 percent of
global supply.

FUNDAMENTALS
* LME ZINC: Three-month LME zinc rose as much as 0.4
percent to $2,848.50, its highest since July 2, and was up 0.1
percent at $2,840, matching the previous session's high, as of
0708 GMT.
* SHFE ZINC: The most-traded May zinc contract on the
Shanghai Futures Exchange climbed as much as 2.5
percent to 21,980 yuan ($3,277.91) a tonne, the highest since
April 2, 2018, before closing up 2 percent.
* ZINC SPREADS: The premium of cash zinc over the
three-month LME contract CMZN0-3 stood at $52 a tonne on
Tuesday, the highest since Jan. 7, underscoring tight near-term
supply for physical metal.